ECO100Y1 Study Guide - Quiz Guide: Food Truck, Absolute Advantage, Opportunity Cost
Document Summary
We will be playing a game in tutorials this week. To prepare (and help you play better), i suggest: complete the questions below, watch the two-minute video: https://goo. gl/zr0nvi, bring to tutorial the (cid:862)cheat sheet(cid:863) on the next page. Fill it out before tutorial! (oh, and bring something to write with!) Orange and blue are two food trucks that produce burgers and fries. The table below indicates, for each food truck, how many of each item can be produced in a minute of time: Which food truck as an absolute advantage in producing fries: assume that each food truck is using all of its time. Which food truck trades away burgers and gets fries: assume that you are the food truck that trades away fries. What is the minimum number of burgers you must get in order to be willing to trade away an order of fries? (hint: what did you give up to make that order of fries?)
