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Assignment:
Steve works in the labor market and earns a wage of $20 per hour. Bob can earn a wage of $10 per hour in the labor market. What additional information do we need to know in order to determine who has a comparative advantage in market labor?
A. There is no additional information required. Based on the information available River has a comparative advantage in market labor.
B. Who likes to work at home and who prefers to work in the labor market.
C. The relative bargaining power of each person in the household.
D. The value of home production that River and Lake can each produce in 1 hour.
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