According to the principle of comparative advantage

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You and a friend have decided to work jointly on a course project. Frankly, your friend is a less than ideal partner. His skills as a researcher are such that he can review and outline only two articles a day. Moreover, his hunt-and-peck style limits him to only 10 pages of typing a day. On the other hand, in a day you can produce six outlines or type 20 pages. a. Who has an absolute advantage in outlining, you or your friend? What about typing? b. Who has a comparative advantage in outlining? In typing? c. According to the principle of comparative advantage, who should specialize in which task?

Reference no: EM13994801

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