What is absolute advantage? a. the ability to produce a good or service at a lower opportunity cost than other producers. b. the ability to produce more of a good or service than competitors using the same amount of resources. c. the ability to use all available resources to produce output. d. the gain from consuming a product whose benefit is greater than its cost. e. the gain from selling a product for more than it costs to produce that product.

University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.