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3 years ago

Berries Fish

Business

1 answer:

gavmur [86]3 years ago

4 0

Answer:

B. Bill has an absolute advantage in picking berries and Rob has an absolute advantage in catching fish.

D. Bill has a comparative advantage in picking berries.

Explanation:

A person has comparative advantage in production if it produces at a lower opportunity cost when compared with other people.

A person has absolute advantage in the production of a good or service If it produces more quantity of the good when compared with other people.

Rob picks 20 berries while bill picks 30. This indicates that Bill has an absolute advantage in picking berries.

Rob catches 80 fish while bill catches 60 fish. This indicates that rob has an absolute advantage in catching fish.

To determine comparative advantage, the opportunity costs have to be determined.

The opportunity cost of Rob in picking berries = 80 / 20 = 4

The opportunity cost of Rob in catching fish = 20 / 80 = 0.25

The opportunity cost of Bill in picking berries = 60 / 30 = 2

The opportunity cost of Bill in catching fish = 30 / 60 = 0.5

Bill has a comparative advantage in picking berries because his opportunity cost is lower.

Rob has a has a comparative advantage in catching fish because his opportunity cost is lower.

I hope my answer helps you

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