barlow and rusia own a nail salon. a manicure takes barlow 60 minutes to complete and takes rusia 45 minutes to complete. completing a pedicure takes barlow 45 minutes and takes rusia 30 minutes. who has a comparative advantage in pedicures?

Respuesta :

Rusia takes 45 minutes to complete a manicure and 30 minutes to complete a pedicure, so Rusia has a comparative advantage in pedicures.

Rusia has a lower opportunity cost.

The opportunity cost is a concept used in microeconomic theory to describe the value or benefit lost by choosing one activity over another. Simply defined, it implies that you lose out on the opportunity to engage in another activity if you choose one. When economists refer to a resource's "opportunity cost," they indicate the value of the next-highest alternative usage. For example, you cannot watch a movie and then read a book at home while spending the money you would have spent on the movie on something else.

Simply described, opportunity cost is what a business owner forfeits while deciding between two courses of action. It enables the measurement of each option's benefits and downsides, leading to more profitable overall decision-making.

Learn more about opportunity cost here:

https://brainly.com/question/13036997

#SPJ4