1. Tony's opportunity cost of producing a snowboard is 1/2 skis. It is because to produce one unit of snowboard, Tony has to sacrifice half of the production of skies.
2. Patty's opportunity cost of producing a snowboard is 2 skis. It is because as given in the table, two produce one unit of snowboard Patty has to give up two units of skies.
3. Tony has a comparative advantage in producing snowboards if _.
1. Tony's opportunity cost of producing a snowboard is 1/2 skis. It is because to produce one unit of snowboard, Tony has to sacrifice half of the production of skies.
2. Patty's opportunity cost of producing a snowboard is 2 skis. It is because as given in the table, two produce one unit of snowboard Patty has to give up two units of skies.
3. Tony has a comparative advantage in producing snowboards if _.
Option D (Tony producers snowboards at a lower opportunity cost than Patty) is correct.
It is because with lower opportunity cost, Tony can produce more skies than Patty by using less resource in comparison of Patty.
Answers & Comments
Answer:
1. Tony's opportunity cost of producing a snowboard is 1/2 skis. It is because to produce one unit of snowboard, Tony has to sacrifice half of the production of skies.
2. Patty's opportunity cost of producing a snowboard is 2 skis. It is because as given in the table, two produce one unit of snowboard Patty has to give up two units of skies.
3. Tony has a comparative advantage in producing snowboards if _.
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1. Tony's opportunity cost of producing a snowboard is 1/2 skis. It is because to produce one unit of snowboard, Tony has to sacrifice half of the production of skies.
2. Patty's opportunity cost of producing a snowboard is 2 skis. It is because as given in the table, two produce one unit of snowboard Patty has to give up two units of skies.
3. Tony has a comparative advantage in producing snowboards if _.
Option D (Tony producers snowboards at a lower opportunity cost than Patty) is correct.
It is because with lower opportunity cost, Tony can produce more skies than Patty by using less resource in comparison of Patty.
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