Chapter 3 - Exchange and Markets - Exercises - 3.1 Comparative Advantage and Exchange - Page 63: 1.1a

Quigley opportunity cost of financial statement is 4 tax returns opportunity cost of tax return is 1/4 financial statement Slokum opportunity cost of financial statement is 1 tax return opportunity cost of tax return is 1 financial statement

In the time required to complete 1 financial statement, Quigley can complete 4 tax returns. In the time required to complete 1 tax return, Quigley can complete 1/4 financial statements. In the time required to complete 1 financial statement, Slokum can complete 1 tax returns. In the time required to complete 1 tax return, Quigley can complete 1 financial statements.