Absolute advantage and comparative advantage

Reference no: EM1311400

1. Explain how absolute advantage and comparative advantage differ?

2. Kyle can read 20 pages of economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying.

a) Draw Kyle's production possibilities frontier for reading economics and history.

b) What is Kyle's opportunity cost of reading 100 pages of history?

Reference no: EM1311400

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