Given the maximum production of each good by Fred and Barney, which of the following statements is true?
Fred
Barney
Pogo
Sticks
24
28
Unicycles 8
14
Fred has an absolute advantage in making both products.
Barney has an absolute advantage in making both.products.
Barney has an absolute advantage in making pogo sticks and Fred in making unicycles.
Barney has an absolute advantage in making unicycles and Fred in making pogo sticks.
Question 26
3 pts
Given the table in the prior question, what is Fred's opportunity cost of making a unicycle
(1)/(3) of a pogo stick
3 pogo sticks
(1)/(2) of a unicycle
1.3 pogo sticks
Given the maximum production of each good by Fred and Barney,which of the following statements is true?
Fred
Barney
Pogo Sticks
24
28
Unicycles 8
14
O Fred has an absolute advantage in making both products
O Barney has an absolute advantage in making both-products.
O Barney has an absolute advantage in making pogo sticks and Fred in making unicycles
O Barney has an absolute advantage in making unicycles and Fred in making pogo sticks
D
Question 26
3 pts
Given the table in the prior question,what is Fred's opportunity cost of making a unicycle
O 1/3 of a pogo stick
O 3 pogo sticks
O1/2 of a unicycle
O 1.3 pogo sticks