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IrinaK [193]
2 years ago
6

Steve can​ wash, fold, and iron a basket of laundry in two hours and prepare a meal in one hour. His roommate Mike can​ wash, fo

ld, and iron a basket of laundry in three hours and prepare a meal in one hour. The absolute advantage in laundry is held by A. Mike. B. Steve. C. neither person. The comparative advantage in meal preparation is held by A. Steve. B. Mike. C. neither person.
Mathematics
1 answer:
masha68 [24]2 years ago
7 0

Answer: The absolute advantage in laundry is held by Steve while the comparative advantage in meal preparation is held by Mike.

Step-by-step explanation:

Absolute advantage is when an individual, firm or country can produce a good or service at a lower cost when compared to the other economic agent. When someone has absolute advantage, it means that the person uses fewer resources and spends less time in producing the good. Based on the explanation, Steve has absolute advantage in laundry since he spends two hours compared to Mike who uses 3hours.

Comparative advantage is when an individual, firm or government can produce a good or service with a lower opportunity cost when compared to the other person. Mike has a comparative advantage in the preparation of meal. It'll be better for Steve to focus his attention on laundry while Mike does the meal.

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mark has a cabinet door in his kitchen with the dimensions shown below. he creates a scale drawing where the width of the cabine
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Step-by-step explanation:

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On the surface of the moon, the value of g is 1.67 m/s2. What is the horizontal distance traveled during a 2.00-meter high jump
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2 years ago
Adam sells medical magazine and books. the table shows price for both Magazine £8
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Adam earned a total of £265.10 last week.

Step-by-step explanation:

Step 1; Adam earns a basic pay of £200 each week. He earns 10% of the magazine price for each sold  and 15% of the book price for each sold. Each magazine costs £8 and each book costs £15. He sells 42 magazines and 14 books.

Money earned for selling a magazine = 10% × £8 = 0.10 × £8 = £0.80,

Money earned for selling a book = 15% × £15 = 0.15 × £15 = £2.25,

Money earned for selling 42 magazines = 42 × £0.80 = £33.60,

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Money earned for selling 42 magazines and 14 books = £33.60 + £31.50 =  £65.10.

Step 2; Now we have to calculate his last week's salary which is his weekly pay and his earnings from selling magazines and books. We found that he earned £31.50 from selling books and magazines. His weekly salary is £200.

Last week's salary =  £200 +  £65.10 = £265.10.

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