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Unformatted text preview: Econ211 Homework questions in 9 th ed. of text book . Only the problems that are different from the 8 th ed. are included here. Chapter 1 Q3 is the same in the two editions , but there is no part b) of this question in the 9 th ed. Q6 is the same in the two editions. Q3 in the Appendix is the same in the two editions. Chapter 2 Q4. Meghan and Kate live in the beach town of Santa Cruz. They own a small business in which they make wristbands and pot holders and sell them to the people on the beach. As shown in the table below, Meghan can make 16 wristbands per hour but only 4 pot holders. Kate is a bit slower and can make 15 wristbands or 3 pot holders in an hour. Output per hour Wristbands Pot holders Meghan 16 4 Kate 15 3 a. For Meghan and Kate, what is the opportunity cost of a pot holder? Who has a comparative advantage in the production of pot holders? Explain your answer....
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This note was uploaded on 09/07/2010 for the course FAS Econ 211 taught by Professor Marcus during the Fall '08 term at American University of Beirut.
- Fall '08