Question

Table Time Needed to Make One Plate of Pasta Lasagna Emily 30 minutes 60 minutes Anna...

Table Time Needed to Make One Plate of Pasta Lasagna Emily 30 minutes 60 minutes Anna 15 minutes 40 minutes From the table above calculate the following: Who has an absolute advantage in Pasta and why? Who has an absolute advantage in Lasagna and why? Who has a comparative advantage in Pasta and how? Who has a comparative advantage in Lasagna and how? Note: Make sure to show all the steps.

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Answer #1
Pasta Lasagna
Emily 30 60
Anna 15 40
  • Anna has an absolute advantage in pasta because she takes less time in producing in comparison to Emily. (15<30).
  • Anna has an absolute advantage in lasagna because she takes less time in producing in comparison to Emily. (40<60).
  • The opportunity cost of producing Pasta
Opportunity Cost
Emily 60 / 30 =2
Anna 40 / 15 = 2.66

Emily has a comparative advantage in producing pasta.

  • The opportunity cost of producing Lasagna
Opportunity Cost
Emily 30 / 60 =0.5
Anna 15 / 40 = 0.375

Anna has a comparative advantage in producing lasagna.

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