Question Solved1 Answer given this table please answer the gollowing 2 questions. will leave a thumbs up for the correct answer! thank you!!#1#2 Table 3-3 Refer to Table 3-3. What is the opportunity cost of one sweater for Maria? 2 coats 3 coats 4 coats 5 coats Refer to Table 3−3. What does each of the two producers have a comparative advantage in? Maria has a comparative advantage in coats, and Courtney has a comparative advantage in sweaters. Maria has a comparative advantage in both goods, and Courtney has a comparative advantage in neither good. Maria has a comparative advantage in sweaters, and Courtney has a comparative advantage in coats. Maria has a comparative advantage in neither good, and Courtney has a comparative advantage in both goods.

GTIBAJ The Asker · Economics
given this table please answer the gollowing 2 questions. will leave a thumbs up for the correct answer! thank you!!


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Transcribed Image Text: Table 3-3 Refer to Table 3-3. What is the opportunity cost of one sweater for Maria? 2 coats 3 coats 4 coats 5 coats Refer to Table 3−3. What does each of the two producers have a comparative advantage in? Maria has a comparative advantage in coats, and Courtney has a comparative advantage in sweaters. Maria has a comparative advantage in both goods, and Courtney has a comparative advantage in neither good. Maria has a comparative advantage in sweaters, and Courtney has a comparative advantage in coats. Maria has a comparative advantage in neither good, and Courtney has a comparative advantage in both goods.
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Transcribed Image Text: Table 3-3 Refer to Table 3-3. What is the opportunity cost of one sweater for Maria? 2 coats 3 coats 4 coats 5 coats Refer to Table 3−3. What does each of the two producers have a comparative advantage in? Maria has a comparative advantage in coats, and Courtney has a comparative advantage in sweaters. Maria has a comparative advantage in both goods, and Courtney has a comparative advantage in neither good. Maria has a comparative advantage in sweaters, and Courtney has a comparative advantage in coats. Maria has a comparative advantage in neither good, and Courtney has a comparative advantage in both goods.
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Step 1 Given  The production schedule of Maria and Courtney in 40 hours of labor  Step 2 Question 1 In this question, we have to find Maria's opportunity cost of one sweater. We have given that in 40 hours of labor, Maria can either produce 1 sweater or 5 coats. Opportunity cost is nothing but the cost associated with not selecting the next best alternative. The value that you have to give up in order to choose to make a sweater is the opportunity cost of one sweater. Here, If maria wants to produce a sweater then she has to give up the production of 5 coats.  Therefore the opportunity cost of a sweater for Maria is 5 coats. Step 3 Question 2 ... See the full answer