Leo and Rob have to write poems and knit quilts as part of a contest to win tick

Question

Leo and Rob have to write poems and knit quilts as part of a contest to win tickets to New York. The contest stipulates that the two people who have the most poems and quilts by the end of the day will each win a trip to New York. Leo and Rob think that they can probably have the best shot at winning if they specialize and then trade one good for another. They know that Leo can write 11 poems in 20 minutes and knit 2 quilts in 100 minutes. Rob can write 5 poems in 10 minutes and knit 3 quilts in 160 minutes. Please answer the following questions using this information:

1.     Who has the absolute advantage in which good? Illustrate your answer by showing both Leo

Explanation / Answer

First Considering case of Leo

In Poem: 11 poem in 20 minutes =20/11= 1.81 minutes/poem

In quilts: 2 quilts in 100 minutes = 100/2 = 50 minutes/quilt

For Rob

In Poem: 5 poem in 10 minutes = 10/5 = 2 minutes/poem

In quilts: 3 quilts in 160 minutes = 160/3= 53.3 minutes/quilt

So Leo has absolute advantage in both poem as well as quilt.

2.Leo has comparitive advantage in both the task as expalined above.

3.In case of Leo 1 quilt= 50/1.81=27.624 poem

In case of Rob,1 quilt= 53.3/2=26.62 poem

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