1.4 Comparative Advantage and Trade

Is this an output or input problem?

• input

• output

What is Augus's opportunity cost of making one burrito? ____ tacos?

Enter a number....

Who has the comparative advantage in producing Burritos?

• Brian

• Angus

Who has the absolute advantage in producing Burritos?

• Brian

• Angus

Who has the absolute advantage in producing Tacos?

• Brian

• Angus

Who has the comparative advantage in producing Tacos?

• Brian

• Angus

What is Brian's opportunity cost of making one taco?

• 1/4 Burrito

• 1/6 Burrito

• 1/2 Burrito

• 1/8 Burrito

What is Angus's opportunity cost of making one taco?

• 1/4 Burrito

• 1/6 Burrito

• 1/2 Burrito

• 1/8 Burrito

What is Brian's opportunity cost of making one burrito? ____ tacos?

Enter a number....

What would be an acceptable terms of trade? 1 Burrito for ____ tacos?

• 6 tacos

• 5 tacos

• 4 tacos

• 2 tacos