unmebelyeBappsassessmenttakea 11 O the economic problem O th

unmebelyeBapps/assessment/take/a 11%. O the economic problem. O the fallacy of composition. o Ockham\'s razor O decreasing opportunity costs. QUESTION 17 Refer to the information provided in Table 2.2 below to answer the following question(s). Table 2.2 Molly Pete Avatar Design Tattoo Design Refer to Table 2.2. Which of the following statements is true? O Molly has a comparative advantage in both avatar design and tattoo design. O Pete has a comparative advantage in avatar design and Molly has a comparative advantage in tattoo design O Pete has a comparative advantage in both avatar design and tattoo design O Molly has a comparative advantage in avatar design and Pete has a comparative advantage in tattoo design. QUESTION 18 The economic problem can best be stäted as o Given scarce resources, how exactly do societies go about deciding what to produce now to produce it and tor whom to produce? vers to

Solution

Option 4

Since opportunity cost for molly is less for avatar design and Pete opportunity cost is less for tattoo design

Avatar Design

Tattoo Design

Opportunity cost of Tatto Design

Opportunity cost of Avatar Design

Molly

6

3

1

0.50

2

1

Pete

8

2

1

0.33

4

1

	Avatar Design	Tattoo Design	Opportunity cost of Tatto Design	Opportunity cost of Avatar Design
Molly	6	3	1	0.50	2	1
Pete	8	2	1	0.33	4	1