Business, 23.02.2021 18:30 mgollaoutlaw35
If Mike can make 2 surfboards per hour or 10 bikes per hour and Joe can produce 4 surfboards per hour and 12 bikes. Which of
the following is true?
Mike has an absolute advantage in the production of surfboards
Mike's opportunity cost for producing one bike is 5 surfboards
Joe has a comparative advantage in the production of both surfboards and bikes
Mike has a comparative advantage in the production of surfboards
Joe's opportunity cost for producing one surfboard is 3 bikes
Answers: 2
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If Mike can make 2 surfboards per hour or 10 bikes per hour and Joe can produce 4 surfboards per hou...
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