Can you ans this for me please! ( jack & Jill are both entrepreneurs and are both producing hats & shoes. jack is producing 1 hat and 3 shoes per hour whereas Jill is currently producing 2 hats & 5 shoes per hour. Now they limited labor hours to 10 hours per working day.
a. Work out the total output per day for the entrepreneurs?
b. Who has the absolute advantage in producing hats & shoes per hour
c. Who has the comparative advantage in producing Hats?
d. Who has the comparative advantage in producing shoes?
e. As a trade Economist who should you advice to export shoes and why?