Practice: Who has the absolute advantage in making scrambled eggs?
Everyone has different levels of productivity. Who's better at making what? How do we define "better"?
Concept #1: Two PPFs, Specialization, and Absolute Advantage
Concept #2: Opportunity Costs and Comparative Advantage
Practice: Who has the absolute advantage in making fresh squeezed orange juice?
Practice: Who has the comparative advantage in making scrambled eggs?
Practice: Who has the comparative advantage in making fresh squeezed orange juice?
