Martha and Stewart are married. They spend their time performing two favorite activities. knitting scarves and making meatballs. Martha takes 2h to knit a scarf and 1h to make a dozen meatballs. Stewart takes 3h to knit a scarf and 2h to make a dozen meatballs.
a) what is each indiv.'s opp.cost of knitting a scarf?
b) Who has the absolute advantage?
c) who has the comparative advantage in knitting scarves and meatballs?