Question

You've been put in charge of a bake sale for a local charity at which you...

You've been put in charge of a bake sale for a local charity at which you are planning to sell cookies and cupcakes. suppose another volunteer is going to help you bake. Suppose you have a comparative advantage at baking cookies and another volunteer has a comparative advantage at baking cupcakes.

In this case, you should bake ( -- )and another volunteer should bake ( --).

you should split up the baking because

a. you can each monitor each other's activity and progress

b. It will be more fun that way

c. there will be more cookies and cupcakes produces between you than if you each spent half of your time baking each good

d. there will be twice as many cookies and cupcakes produce between you than if you each spend half of your time baking each good.

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Homework Answers

Answer #1

Answer 1: I should bake cookies and the volunteer should bake cupcakes.

Explanation: A person has a comparative advantage in the production of a good when the person can produce the good at a lower opportunity cost than others. A person should produce the good at which he/she has a comparative advantage. I have a comparative advantage in baking cookies and the volunteer has a comparative advantage in baking cupcakes. So, I should bake cookies and the volunteer should bake cupcakes.

Answer 2.: Option c. there will be more cookies and cupcakes produces between you than if you each spent half of your time baking each good

Explanation: When each person produces according to comparative advantage, the total production is maximized.

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