Question

Vincent and Jean are two cooks who work in a village. Each of them can either bake cakes or make pizzas. Every ingredient is readily available to them, and the only scarce resource is the cooks' time. Vincent can bake 10 cakes or make 5 pizzas in an hour. Jean can bake 12 cakes or make 8 pizzas in an hour. Please answer the four questions. 1 . Which cook has the absolute advantage in baking cakes

Answer 1

Jean

Explanation:

Vincent can bake 10 cakes or make 5 pizzas in an hour. Jean can bake 12 cakes or make 8 pizzas in an hour. Please answer the four questions. 1 . Which cook has the absolute advantage in baking cakes

Absolute advantage exists when a producer can make greater quantity of products at the same cost as its rivals or makes the same quantity of product at a lower cost than its rivals. In the scenario described above, Jean as the absolute advantage as he can make more