Question

Engineering Economics

3. Please answer the following questions with regards to the given data:

Quigley can produce 2 financial statements per hour or 8 tax returns per hour, meanwhile Slokum can produce 1 financial statement per hour or 1 tax return per hour.

Who has the absolute advantage with regards to financial statements? Why?

Who has the absolute advantage with regards to tax returns? Why?

Quigley can produce 2 financial statements per hour or 8 tax returns per hour, meanwhile Slokum can produce 1 financial statement per hour or 1 tax return per hour.

Who has the comparative advantage with regards to tax returns? Why?

Who has the absolute advantage with regards to financial statements? Why?

Who has the comparative advantage with regards to financial statements? Why?


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