AB 204 STUDY Extraordinary Success/ab204study.com AB 204 STUDY Extraordinary Success/ab204study.com | Page 3

Explain the difference between absolute advantage and comparative
advantage. Which is more important in determining trade between
individuals or countries? Is it absolute advantage or comparative
advantage? Why?
Let us assume two students must prepare a presentation for their
marketing class. As part of their class presentation, they must do a
series of calculations and prepare 50 PowerPoint slides. It would
take Larry 10 hours to do the required calculation and 10 hours to
prepare the slides. It would take Kate 12 hours to do the series of the
calculations and 20 hours to prepare the PPT slides.
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AB 204 Unit 3 Assignment Supply and Demand Model and
PPF
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1) The table below indicates the total quantity supplied and
demanded of flashlights at different price levels.