Reference no: EM13796841
1. Ryan and Asha produce water skis and wakeboards. The first table shows Ryan’s production possibilities and the second table shows Asha’s production possibilities. Each week, Ryan produces 5 wakeboards and 40 water skis and Asha produces 10 wakeboards and 5 water skis.
Ryan’s Production Possibilities
Wakeboards (per week) 25 , 20, 10, 15, 0
Water Skis (per week) 0,10, 20,30 ,40, 50
Asha’s Production Possibilities
Wakeboards (per week) 20,10,0
Water Skis (per week) 0, 5 ,10
1a) Who has a comparative advantage in producing wakeboards and explain why? Who has a comparative advantage in producing water skis and explain why?
1b) If Ryan and Asha specialize and trade 1 wakeboard for 1 water ski, what are the gains from trade?
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