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Unformatted text preview: Person Task Time Time opportunity Cost You 1 Chicken x vacuume hour vacuume x chicken hour 3 5 . 1 1 5 . 1 = Marty 1 chicken x vacuume hour vacuume x chicken hour 3 . 4 3 . 1 1 3 . 1 = ============================================= You 1 vacuum x chicken hour Chicken x vacuume hour 33 . 5 . 1 1 1 5 . = Marty 1 vacuum x chicken hour Chicken x vacuume hour 23 . 3 . 1 1 1 3 . = Person with the has the lowest opportunity cost of performing the TASK. So, that person should perform the TASK: You should cook chicken and Marty should vacuum the house. You should notice that Marty has an absolute advantageMarty does both tasks quicker than you. But, you have a comparative advantage in cooking chicken and Marty has a comparative advantage in vacuuming the house. Even though Marty is better at everything, Marty is more better at vacuuming and you are less worse at cooking chicken....
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