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PAGE\*MERGEFORMAT50Chapter3/InterdependenceandtheGainsfromTradeChapter3/InterdependenceandtheGainsfromTradePAGE\*MERGEFORMAT41PAGE\*MERGEFORMAT35SOLUTIONSTOTEXTPROBLEMS:QuickQuizzes1.Figure1showsaproductionpossibilitiesfrontierforRobinsonCrusoebetweengatheringcoconutsandcatchingfish.IfCrusoelivesbyhimself,thisfrontierlimitshisconsumptionofcoconutsandfish,butifhecantradewithnativesontheislandhewillbeabletoconsumeatapointoutsidehisproductionpossibilitiesfrontier.Figure12.Crusoe’sopportunitycostofcatchingonefishis10coconuts,sincehecangather10coconutsinthesameamountoftimeittakestocatchonefish.Friday’sopportunitycostofcatchingonefishis15coconuts,sincehecangather30coconutsinthesameamountoftimeittakestocatchtwofish.Fridayhasanabsoluteadvantageincatchingfish,sincehecancatchtwoperhour,whileCrusoecanonlycatchoneperhour.ButCrusoehasacomparativeadvantageincatchingfish,sincehisopportunitycostofcatchingafishislessthanFriday’s.3.Iftheworld’sfastesttypisthappenstobetrainedinbrainsurgery,heshouldhireasecretary.Hehasanabsoluteadvantageintyping,butacomparativeadvantageinbrainsurgery,sincehisopportunitycostinbrainsurgeryislowcomparedtotheopportunitycostforotherpeople.QuestionsforReview1.Absoluteadvantagereflectsacomparisonoftheproductivityofoneperson,firm,ornationtothatofanother,whilecomparativeadvantageisbasedontherelativeopportunitycostsofthepersons,firms,ornations.Whileaperson,firm,ornationmayhaveanabsoluteadvantageinproducingeverygood,theycan'thaveacomparativeadvantageineverygood.2.Manyexamplesarepossible.Suppose,forexample,thatRogercanprepareafinemealofhotdogsandmacaroniinjusttenminutes,whileittakesAnitatwentyminutes.AndRogercandoallthewashinthreehours,whileittakesAnitafourhours.Rogerhasanabsoluteadvantageinbothcookinganddoingthewash,butAnitahasacomparativeadvantageindoingthewash(thewashtakesthesameamountoftimeas12meals,whileittakesRoger18meals'worthoftime).3.Comparativeadvantageismoreimportantfortradethanabsoluteadvantage.Intheexampleinpro
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