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ohaa [14]
3 years ago
15

Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will make 16 d

ishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. Jerry has a comparative advantage in______
Business
1 answer:
nekit [7.7K]3 years ago
8 0

Answer:

Jerry has a comparative advantage in fences

Explanation:

Comparative advantage is a concept in economics that states the product in which a person / company/ country has relative advantages or may produce more in comparison to competition.

Jerry produces 7 fences but Tom only 4 so Jerry, if he concentrated only in fences would be more competitive or productive than Tom. Tom instead, as he can produce 16 dishes. two more than Jerry has comparative advantages in the production of dishes.

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Approximately 18,000

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<u>discontinuous innovation.</u>

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3 0
4 years ago
Cyclical unemployment is caused by business cycle fluctuations. reducing international trade barriers, which causes some industr
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Answer:

The correct answer is letter "A": business cycle fluctuations.

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6 0
3 years ago
The Endot Manufacturing Company, a manufacturer and wholesaler of widgets, has provided you with the following financial informa
Katyanochek1 [597]

Quick ratio = 1.30 (Option C)

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Quick ratio or acid test ratio is calculated as follows:

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3 0
3 years ago
In the short run, an increase in the aggregate price level caused by a shift in the aggregate demand curve first causes:
ra1l [238]

Answer: b. movement along SRAS

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When the price level changes due to an increase in the demand that forces the Aggregate demand curve to shift rightward, the immediate effect would be that the Aggregate demand curve would intersect the Short Run Aggregate supply at a new point.

This new point will see a movement <em>along </em>the SRAS from its previous equilibrium point to the new equilibrium intersection point with the AD curve. In other words, the new point will be on the same SRAS curve just moving from one point to another.

6 0
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