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Prior to discussing the situation at hand, let’s first define absolute advantage:
“Absolute Advantage [is] the ability of an economic actor (an individual, a household or a firm) to produce some particular good or service with a smaller total input of economic resources (labor, capital, land, etc. ... However to find the comparative advantage over Phil; we divided the 12 by 60 minutes to determine that one phone call took 5 minutes (or, 1/20 of an hour which is represented above under the OC of one PC for Francis) and the OC of 1 financial statement of Francis’ was determined by dividing the 3 into 60 minutes giving us 20.
Approximate Word count = 418 Approximate Pages = 1.7 (250 words per page double spaced)
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