Jose can wash, fold, and iron a basket of laundry in two hours and prepare a meal in one hour. his roommate roberto can wash, fold, and iron a basket of laundry in three hours and prepare a meal in one hour. the absolute advantage in laundry is held by a. jose. b. roberto. c. neither person. the comparative advantage in meal preparation is held by a. jose. b. roberto. c. neither person.

A) Jose B) Roberto

Explanation:

Absolute advantage is the advantage when work is given two individuals or producer and provide the same resources, the person who works faster and better can have the absolute advantage.  

For example, if my friend is washing 100 dishes in one hour and on the other hand I am washing some dishes in two hours or we can say I am washing 50 dishes in one hour then my friend has more absolute advantage in dish washing skills than me.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.

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