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can you help me with this two questions ? Suppose Fred can produce both cakes and lemonade using fewer inputs than Sarah. What is this concept called?...
can you help me with this two questions ?
Suppose Fred can produce both cakes and lemonade using fewer inputs than Sarah. What is this concept called? Can Fred benefit from trade with Sarah, or should he be self-sufficient? Explain your answer.
At a price of $35 per set, Brent rents out 80 sets of skis per day. In peak season he can charge $45 per set and rents out 150 sets of skis per day.
(c)Explain how it is possible for both price and quantity of ski rentals to increase in peak season. Does this violate the law of demand? Show this situation on a graph.
