Illustrate what is barneys relative opportinuty cost

Assignment Help Business Economics

Reference no: EM1361149

These are the number of minutes needed to write a speeding citation or tow a vehicle by Barney or Goober. For example, 10 minutes of labor by Barney always yields either one speeding ticket or half a Vehicles tow.

BARNEY: 10 minutes to write a speeding citation and 20 minutes to tow a vehicle

GOOBER: 15 minutes to write a speeding citation and 25 minutes to tow a vehicle

a) does barney have an absolute advantage in any activity?

b) What is Barneys relative opportinuty cost of writing one additional speeding citation?

c) What is Goobers relative opportinuty cost of writing one additional speeding citation?

d) In which activity does Barney have a comparative advantage and why?

e) In which activity does Goober have a comparative advantage and why?

f) From a microecenomics perspective expalin why a comparative is the relevant measure?

Reference no: EM1361149

Questions Cloud

Explain and discussion topic is designed to provoke : Explain and discussion topic is designed to provoke some critical analysis of both systems and what Organs or tissues of vascular plants compared to humans

Determine the bad debt expense : Spock Corporation's unadjusted trial balance at Dec 31, 2007, included the following accounts. Spock Corporation estimates its bad debt expense to be 1.5% of net sales.

Development of a job evaluation committee : Explain the role of the committee, the composition and membership, the credentials of each member, and the size of the ideal committee.

Present health promotion information : Health Promotion Messages:Please thread your response onto this question--Look through public media (newspapers, magazines, websites, TV or radio) available to you and select one message that seems to present health promotion information

Illustrate what is barneys relative opportinuty cost : does barney have an absolute advantage in any activity. Illustrate what is Barneys relative opportinuty cost of writing one additional speeding citation.

Team training : Briefly explain the three types of training that a team is likely to need in order to successfully complete a project.

Describe operating model for business process integration : Describe the chosen operating model in terms of business process integration. Compare the selected organization to the sample organizations using the chosen operating model in terms of business process integration.

Determine if there is a important market for its merchandise : Determine if there is a important market for its merchandise in a specific mall location where it is considering opening a store

What do we control using a change control process : Change control process - What do we control using a change control process?

User Account

All Pages