Calculate the opportunity costs of both activities

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Snoopy and Woodstock both need to have some letters typed and some carpets vacuumed. The following table describes how much each of them can accomplish in one hour if that hour is spent either typing or vacuuming: Letters Typed in 1 Hour: Rooms vacuumed in 1 Hour:

Woodstock: 2 letters 2 rooms

Snoopy: 6 letters 3 rooms

(a) Calculate the opportunity costs of both activities for both Woodstock and Snoopy. (b) Demonstrate that they could both be made better off by trading tasks and specializing.

Reference no: EM131166352

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