A producer is said to have an absolute advantage over another producer when he required less amount of input to produce the same good compared to the other producer.

While a producer is said to have a comparative advantage over another producer when he produces his goods at a lesser opportunity cost compared to the other produer.

Here, time is one of the inputs used in production and Maria produces a scarf at a lesser time compared to Sofia. Thus, Maria has an absolute advantage over Maria in the production of scarves.

Therefore, the true statement is "Maria has an absolute advantage over Sofia".

5 0

3 years ago

Algebraically solve the system of equations 2x + y = 5 and 5x − 2y = 8.

Tpy6a [65]

Answer:

x=2, y=1

Step-by-step explanation:

2x + y = 5

5x − 2y = 8.

Multiply the first equation by 2

2( 2x + y) = 5*2

4x +2y = 10

Add this to the 2nd equation to eliminate y

4x+2y = 10

5x -2y = 8

--------------------

9x = 18

Divide by 9

9x/9 = 18/9

x = 2

Now find y

2x+y = 5

2(2)+y = 5

4+y = 5

Subtract 4 from each side

y = 5-4

y =1

3 0

3 years ago