In one day, al's furniture can make 3 tables or 4 chairs, while big furniture warehouse can make 20 tables or 30 chairs. match the concept to the corresponding description.

Question

Mathematics

Jay Morrison

7 March, 20:44

In one day, al's furniture can make 3 tables or 4 chairs, while big furniture warehouse can make 20 tables or 30 chairs. match the concept to the corresponding description.

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Tamia · Answer 1

I'll just give the data I found while researching this question.

Comparative advantage - Al’s can make tables at alower opportunity cost than BIG

Absolute Advantages - BIG can make more tables than Al’s

Trade off - For BIG to make more tables, it has to make fewer chairs.

Gain from trade - BIG and Al’s could bothbenefit if they coordinated their production efforts