AB 204 Unit 2 Assignment Economic Models and Comparative Advantage AB 204 Unit 2 Assignment Economic Models and Compa

AB 204 Unit 2 Assignment Economic Models
and Comparative Advantage
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assignment-economic-models-and-comparative-
advantage
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.