ABSOLUTE AND COMPARATIVE ADVANTAGE PRACTICE SHEET

You are given the following information about a couple and the number of times they can perform a task in a six hour period changing the oil in a car and baking a pie.

Changing Oil and Filter

Billy Bob. Mary Lou
4. 6
Baking a Pie
4. 5

1. What is Billy Bob's opportunity cost of changing the oil in terms of baking a pie?

2. What is Billy Bob's opportunity cost of baking a pie in terms of changing the oil?

Help me please!!!!!!!

Answers

Answer 1

The time to bake a pie is Billy Bob's opportunity cost of changing the oil. Meanwhile, oil change time is Billy Bob's opportunity cost when baking a pie.

We can arrive at this answer because:

Opportunity cost refers to an element that has to be abandoned so that another element can happen.This is because both elements need the same resource and it is not possible to provide this resource to both at the same time.

As we can see from the above question, the time Billy Bob takes to change the oil is roughly the same time he spends baking a pie.

In this case, when changing the oil, he has to give up baking the pie, which makes the time to bake the pie the opportunity cost.

Likewise, when baking the pie, Billy Bob spends the time of changing the oil and that is the opportunity cost.

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Related Questions

The citizens of the US live and work in what type of Economy?

Answers

Answer:

Mixed Market Economy

Explanation:

write a short note on tipu sultan

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Answer:

ruler

Explanation:

tipu sultan also known as a tiger of mysore was the ruler of the kingdom of mysore from 1782 to 1799

respuesta:

ahí esta  en las imagenes

Which among the Apllied Social Sciences would best deal with concerns about life

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Answer:

bhqhwhwgshjjwjwjwjjjejejejejenbbzbzzdsjsfwjdwrdisfskddndd

which statement best describes the relative risk of two types of investment

A) Hedge funds are riskier than bonds.
B) Bonds are riskier than mutual funds.
C) Savings accounts are riskier than hedge funds.
D)Certificates of deposit are riskier than stocks.

Answers

The statement that BEST describes the relative risk of two types of investment is A) Hedge funds are riskier than bonds.

Hedge funds are high-risk investments with the potential for huge financial loss and gain. Hedge funds aggregate funds from many investors and use the funds to buy derivatives like options and futures. They can also borrow funds to buy more financial assets for the purpose of increasing the potential returns. In the process, huge losses can be incurred.

On the other hand, Bonds are not high-risk investments, unlike hedge funds, unless they are junk bonds. They pay assured periodic returns in the form of interest and have defined maturity periods.

Thus, the best description of the relative risk of two types of investment is given by statement A.

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how was war on drugs used to reinforce racism?

Answers

drugs are mostly prevalent in low income neighborhoods and the war on drugs happened right after segregation ended so naturally african american people would end up in poorer neighborhoods due to lack of education and lack of job opportunities and will all said black people where far more likely to be Racially profiled and Prosecuted for being in low income neighborhoods due to the over Policing

who are called conservative people​

Answers

old fashioned people who dont change in any way

. What makes the basis of sorting materials into groups? (a) Similarities in their properties (b) Differences in their properties (c) Both similarities and differences in their properties (d) None of these​

Answers

Answer:

C. Both similarities and differences in their properties.

Hope it helps!

Brainliest would be nice if you want to of course. :)

Answer: C

Explanation: Materials are grouped on the basis of similarities or dissimilarities in their properties.

. 1 Choose the correct answer
1) Violation of what is the child labour considered ?

[A] Right to vote. [b] Right to play
[C]right to education [d] Right to speak


2) Which fuel is pollution free for the vehicles ?

[A]CNG. [b] Kerosene
(c)Diesel [d] Petrol


3) of what resources where the houses tribes made of

(A) social. (b) economic
(C) culture [d] Natural


4) Which ruler of Delhi started new postal system?

(A)Sher Shah [b] Humayun
(c) Akbar [d] Shahjahan

5) At the bank of which river was Vijaynagar established ?
(a) Hagari. [b] Tungbhadra
(C) Bhima. [d] Krishna ​

Answers

Answer:

1. C

2. A

3. D (i think)

4.

5. B


ideas to reduce crime in dangerous places like urban areas?

Answers

Answer:

Here are 5 things that can help reduce crimes in places like urban areas

1.Uses and expand drug courts

2.Make use of DNA evidence

3.Monitor public surveillance  cameras

4.Help ex-offendedrs and find secure  living wage employment

5.connect returning prisoners to stable housing

what type of map is this polatical map capital map road map or tourist map​

Answers

Answer:

political

Explanation:

it doesn't show capital cities, roads or, tourist attractions

Answer:

political map

Explanation:

Học phần sinh viên đại học đã giúp bạn những gì?

Answers

Answer:

in english please so I can help u

Explanation:

Lemmings are small mammals that reproduce quickly. A lemming population often grows so quickly that there is not enough food for all of the lemmings to eat. This results in a decline of the lemming population.

This example best supports the ideas of which scientist?

Answers

Answer:

population growth and decrease

Explanation:

how time management can lead to effective studying​

Answers

Answer:

Effective time management allows students to complete more in less time, because their attention is focused and they're not wasting time on distractions (such as social media, for example. Efficient use of time also reduces stress, as students tick off items from their to-do list.

Explanation:

Effective time management is associated with greater academic performance and lower levels of anxiety in students; however many students find it hard to find a balance between their studies and their day-to-day lives.

Effective time management allows students to complete more in less time, because their attention is focused and they're not wasting time. Efficient use of time also reduces stress, as students tick off items from their to-do list

How did the Middle Kingdom affect the economy

Answers

During the Middle Kingdom period, Osiris became the most important deity in popular religion. The Middle Kingdom was followed by the Second Intermediate Period of Egypt, another period of division that involved foreign invasions of the country by the Hyksos of West Asia.

Their name, Heqau-khasut, translates as 'Rulers of Foreign Lands' (given by the Greeks as Hyksos), suggesting to some scholars that they were kings or nobility driven from their homes by invasion who found refuge in the port city of Avaris and managed to establish a strong power base during the decline of the 13th

Trade networks helped to diversify the economy and bring more wealth. With over 90% of the population working in the fields, agricultural products were a major source of production and wealth. ... Manufacturing of products including linen, beer, and war goods also flourished during the New Kingdom period.

what forces on earths surface shape the land

Answers

Answer: Wind, water, and ice erode and shape the land. Volcanic activity and earthquakes alter the landscape in a dramatic and often violent manner. And on a much longer timescale, the movement of earth's plates slowly reconfigures oceans and continents.

Explanation:

Answer:

Land forms are the result of a combination of constructive and destructive forces. Constructive forces include crustal deformation ,volcanic eruption ,while destructive forces include weathering and erosion.

Why is competition limited in an oligopoly? Economics

Answers

The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market. Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs.

What three adjectives or descripted phrases for migrate

Answers

Answer:

Roving; wandering; nomadic

Explanation:

After war segregation got worse in which way's?

Answers

De jure segregation was outlawed by the Civil Rights Act of 1964, the Voting Rights Act of 1965, and the Fair Housing Act of 1968. In specific areas, segregation was barred earlier by the Warren Court in decisions such as the Brown v. Board of Education decision that overturned school segregation in the United States.

To raise money for a new student union, the Student Snack Bar charges a tax of $0.75
on each beverage. In the graph, the original demand curve for beverages is labeled "Demand" and the shifted demand curve, which accounts for the tax, is labeled "Shifted Demand." Use this graph to answer the questions. Answer to the nearest cent.

Answers

1. The Student Snack Bar pays $0.50 per beverage of the tax.

2. The students pay $0.25 per beverage of the tax.

Data and Calculations based on the graph:

The total cost/revenue of beverage purchased after the tax = $1,000 (500 x $2.00)

The total cost/revenue of beverage purchased before tax = $1,225 (700 x $1.75)

The price per beverage before $0.75 tax = $1.75

The price per beverage after $0.75 tax = $2.00

Students pay additional $0.25 (tax) per beverage ($2.00 - $1.75)

The Student Snack Bar pays $0.50 (tax) per beverage ($1.75 - $1.25) because its revenue per beverage reduces from $1.75 to $1.25 ($2.00 - $0.75).

Thus, the students suffer an increase of 14.3% ($0.25/$1.75 x 100) while the Student Snack Bar loses 28.6% ($0.50/$1.75 x 100) in revenue because of the tax.

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a.Are you well socialized? What do you think about your socialization? Express your opinion.​

Answers

Answer:

I am not well socialized. I typically tend to be socially awkward and choose to stay in the comfort of my home most of the time so my socialization isn't that great.

Explanation:

What are the problems faced by people due to Corona virus??​

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Sickness, death , hurt

How does American federalism distribute, share, and limit power and responsibility?

Answers

Answer: Two important aspects of the U.S. Constitution—federalism and the separation of powers—represent, in part, the framers' efforts to divide governmental power. Federalism limits government by creating two sovereign powers—the national government and state governments—thereby restraining the influence of both.

Explanation:

please can you help with 1, 2 ,3 ,4, 5, 6, 7, 8 and 9 plss i wil give

Answers

Answer:

5: Sherman's March to the Sea was a military campaign of the American Civil War conducted through Georgia from November 15 until December 21, 1864, by William Tecumseh Sherman, major general of the Union Army.

7: On February 15, 1898, an explosion of unknown origin sank the battleship U.S.S. Maine in the Havana, Cuba harbor, killing 266 of the 354 crew members. The sinking of the Maine incited United States' passions against Spain, eventually leading to a naval blockade of Cuba and a declaration of war.(Simple terms: It unknowingly sank)

8: The rough riders were during the 1st United States Volunteer Cavalry, or “Rough Riders,” whonwere a group of soldiers who fought on horseback during the Spanish-American War. They were led by former White House physician Col. Leonard Wood and future president Theodore Roosevelt.

Explanation:

You got the others one correct! I hope this helps!

Answer:

For number 3 it "Forth Worth, Texas" 4 is a

Please help it’s for a midterm w

Answers

Answer:

Explanation:

none of the above

What is rationalism?

a way of thinking that places importance on humans
the view that ideas should be based on reason and logic
a belief that religious beliefs can be blended with scientific ideas
the theory that a force must be applied to start or stop an object





I already know the answer the view that ideas should be based on reason and logic so use this answer to get points

Answers

Answer: I believe it´s C.

Explanation: A belief or theory that opinions and actions should be based on reason and knowledge rather than on religious belief or emotional response.

Rationalism can be defined as the way of the expression of beliefs wherein the ideologies are implied with the help of reasons and logic.

What is the significance of rationalism?

A theory where reasoning of the opinions are given more importance than the emotions or religious orientation of an individual is regarded as the theory of rationalism.

Hence, option B holds true for the significance of rationalism.

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what caused the mountains of the west region of the U.S. to form

A. flood deposits

B. erosion

C. volcanic activity

D. soil addition

Answers

Answer:

C. volcanic activity

Hope this helps?

The mountains of the west region of the U.S. to caused form volcanic activity. As of October 28, 2022, 47 volcanoes were still experiencing eruptions. The correct option is (C).

What do you mean by the volcanic activity?

A volcano is an opening or rupture in the surface of the earth through which gases, volcanic ash, and hot liquid or semi-liquid rock can escape.

They often develop when tectonic plates collide or diverge, but volcanic hotspots can also cause them to form in the midst of plates.

Mid-ocean ridges and subduction zones are the two types of plate boundaries where volcanic activity occurs. Basaltic eruptions create new sea-floor crust at mid-ocean ridges.

Therefore, the mountains of the west region of the U.S. to caused form volcanic activity. As of October 28, 2022, 47 volcanoes were still experiencing eruptions.  

To know more about the volcanic activity, visit:

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describe the physical environment of a person.​

Answers

Answer:

I live in a big city in USA, and I learn at college, I dont work, and i like to Play genshin Impact

Explanation:

The physical environment is where individuals live, learn, work, and play. People interact with their physical environment through the air they breathe, water they drink, houses they live in, and the transportation they access to travel to work and school.

Please give brainliest and thanks if helps

Bài 3: Phát hiện và chữa lỗi dùng từ. Lúc sinh thời ông thích uống rượu và thưởng hoa cùng bạn bè. Tôi muốn vượt qua chính mình để không thua thiệt ai. Từ đó người ta thấy tính chất nghiêm trọng của việc nghiên cứu, thay thế máu khi phải mổ xẻ bằng những thế chất nhân tạo. Nhân dân ta phải đương đầu, chống lại một kẻ thù lớn mạnh. Để hiểu rõ hơn bà cụ Tứ, ta sẽ phân tích bà trong truyện Vợ nhặt. Bản án tương đối khá dài nên mời mọi người ngồi xuống Lúc đó tôi chưa vị thành niên đã phải lên thành phố kiếm sống.

Answers

Answer:

: Phát hiện và chữa lỗi dùng từ. 1.Lúc sinh thời ông thích uống rượu và thưởng hoa cùng

Explanation:

Education is what kind of policy.

Answers

Answer:

Explanation:

Yes

in what country do the religious leaders make all decisions for the country​

Answers

Answer:

It depends.

Explanation:

It depends on the country. In most countries, the leader is in the capital of the country.

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