answer c d e B1 and B2 are both members of the pit crew for a famous team in Formula One autoracing. B1takes 4 seconds to refuel the car and 2 seconds to replace a tire. B2 takes 6 seconds to refuelthe car and 2 seconds to replace a tire.a) Create an opportunity costs table. (Remember: 1 output/resource to get the OC). Do notmake a big table.b) Can B1 and B2 benefit for specialization and trade? Explain the basis of specializationand trade. Maximum of 2 sentences.c) Who has an absolute advantage in the refuelling the car and replacing a tire? Basedfrom the given, explain briefly.d) Who has a comparative advantage in the refuelling the car and replacing a tire? Basedfrom the opportunity cost table, explain briefly.e) If both members decided to trade with each other in terms of their roles, which role willeach one give the other? Based from the opportunity cost table, explain briefly.

and trade. Maximum of 2 sentences. c) Who has an absolute advantage in the refuelling the car and replacing a tire? Based from the given, explain briefly. d) Who has a comparative advantage in the refuelling the car and replacing a tire? Based from the opportunity cost table, explain briefly. e) If both members decided to trade with each other in terms of their roles, which role will each one give the other? Based from the opportunity cost table, explain briefly.

and trade. Maximum of 2 sentences. c) Who has an absolute advantage in the refuelling the car and replacing a tire? Based from the given, explain briefly. d) Who has a comparative advantage in the refuelling the car and replacing a tire? Based from the opportunity cost table, explain briefly. e) If both members decided to trade with each other in terms of their roles, which role will each one give the other? Based from the opportunity cost table, explain briefly.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 9SQ

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