Sia
Question
Macroeconomics
Posted 10 months ago
Alex and Ella are completing a project for class together that requires them to complete worksheets and write essays, and they are trying to decide how to best use their time to divide and conquer this assignment.
The input table below gives the time that it takes Ella and Alex to complete their homework assignments in hours.
\begin{tabular}{lll}
& Time to complete Worksheets & Time to complete Essays \\
\hline Ella & 1 hour & 2 hours \\
Alex & 1 hour & 3 hours
\end{tabular}
Who has absolute advantage in each good?
Choose 1 answer:
(A) Alex has absolute advantage in essays and Ella has absolute advantage in worksheets
(B) Ella has absolute advantage in essays and Alex has absolute advantage in worksheets
(C) Both have absolute advantage in both goods.
(D) Ella has absolute advantage in essays, but neither has absolute advantage in worksheets
(E) Alex has absolute advantage in essays, but neither has absolute advantage in worksheets
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Answer from Sia
Posted 10 months ago
D
Key Concept
Absolute Advantage
Explanation
Absolute advantage refers to the ability of an individual to produce a good or service more efficiently than another individual, using fewer resources. In this case, Ella can complete essays in less time than Alex, giving her the absolute advantage in essays. Since both Ella and Alex take 1 hour to complete worksheets, neither has an absolute advantage in worksheets.
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