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Sliva [168]
4 years ago
8

Suppose Cathy and Lewis work in a bakery making pies and cakes. Suppose it takes Cathy 1.5 hours to make a pie and 1 hour to mak

e a cake, and suppose it takes Lewis 2 hours to make a pie and 1.5 hours to make a cake. Which of the following statements is correct?
A. Cathy should specialize in both pies and cakes.
B. There are no gains from specialization and trade.
C. Lewis should specialize in pies, and Cathy should specialize in cakes.
D. Cathy should specialize in pies, and Lewis should specialize in cakes
Business
1 answer:
Lunna [17]4 years ago
8 0

Answer:

D. Cathy should specialize in pies, and Lewis should specialize in cakes

Explanation:

For determining which statement is correct first we need to find out the

Cathy Opportunity cost for making a pie is

= 1 ÷ 1.5

= 0.66 cake

Now for making a cake is  

= 1.5 ÷ 1

= 1.5 pies

Lewis opportunity cost for making a pie is  

= 1.5 ÷ 2

= 0.75 cake

And for making a cake is  

= 2 ÷ 1.5

= 1.33 pies

Therefore the option D is correct

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<h3>An example of a Real Account is a Bank Account. A Personal account is a General ledger account connected to all persons like individuals, firms and associations. ... A Nominal account is a General ledger account pertaining to all income, expenses, losses and gains. An example of a Nominal Account is an Interest Account</h3>
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3 years ago
Explain how a price system moves a market toward the quilibrium price
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Answer:

By setting the price of goods and services at a level where the suppliers and consumers feel comfortable, the quantity of goods and services supplied will be the same as the quantity of goods demanded.

Explanation:

A price system is a means of arranging economic activities by setting the standard prices of goods and services in that particular economy. In this way the agents of demand and supply can have an estimate of the price of various goods and services. In this way, a supplier who doesn't know the price of a goods or service that he/she plans to sell to a different country or region can use the price system to adjust their selling price effectively. On the same note, the consumers can also acquire goods and services that they have never demanded before by using the price system to determine the standard prices for those goods or services.  

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4 years ago
According to the _____________, many African Americans live in areas where there has been a reduction in work for low-skilled wo
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According to the <u>b. skills mismatch hypothesis</u>, many African Americans live in areas where there has been a reduction in work for low-skilled workers.

<h3>What is the skills mismatch hypothesis?</h3>

The skills mismatch hypothesis is an attempt to explain the reduction in work for low-skilled workers, especially African Americans.

The skills mismatch hypothesis argues that skill demands in urban labor markets increase over time.

Unfortunately, African Americans do not have the job skills and educational attainments, unlike other population groups, thereby causing a skills mismatch.

<h3>Answer Options:</h3>

a. residential segregation theory

b. skills mismatch hypothesis

c. deindustrialization perspective

d. "wage of whiteness" perspective

Thus, according to the <u>b. skills mismatch hypothesis</u>, many African Americans live in areas where there has been a reduction in work for low-skilled workers, and African-American men in particular often do not have the skills required to secure work in the current economy.

Learn more about the skills mismatch hypothesis at brainly.com/question/7493146

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