Question

imagine laura and bob get married to enjoy the economic gains from specialization and division of labor in marriage, and the person who has the comparative advantage in cooking meals specializes in cooking meals while the person with the comparative advantage in labor market works specializes in labor market work. if they still need to each eat 3 meals per day (for a total of 6 meals), what are bob and laura's joint gains from marriage in terms of purchased ingredients?

Answer 1

Laura and Bob's joint gains from marriage in terms of purchased ingredients would be the total ingredients needed for 6 meals.

Step-by-step explanation:

Specialization in marriage can lead to economic gains through the division of labor. In this scenario, Laura specializes in cooking meals while Bob specializes in labor market work. If they each need to eat 3 meals per day, their joint gains from marriage in terms of purchased ingredients would be the total ingredients needed for 6 meals.

For example, Laura would be responsible for cooking all 6 meals, so the ingredients needed for those meals would be her joint gain. Bob's specialization in labor market work allows Laura to focus on cooking, increasing the efficiency and productivity in the kitchen.

By specializing in their comparative advantages, Laura and Bob can optimize their time and skills, resulting in greater overall output and economic gains