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- I calculated the opportunity cost for producing 1 nail and 1 lash. I've rounded some numbers because you can't have a half of a nail or lash. Opportunity Cost Chart1 Nail1 LashOGCare25/30 lashes30/25 nailsDolly's Beauty Bar50/15 lashes15/50 nailsIdeally, I'm more efficient in making nails and you're more efficient in making lashes because we lose less production in focusing on those products.
- You have the comparative advantage in nails and I have it in lashes. So what do you propose?
- specialization?
- I propose we increase specialization and division of labor. Working alone daily, let's say your business is making 7 nails and 25 lashes and my business is making 15 nails and 12 lashes, the total production is 23 nails and 37 lashes.OGCare15 nails12 lashesDolly's Beauty Bar7 nails25 lashesTotal Production23 nails37 lashes
- Trading , would be mutually beneficial in our case, but whats the gains compared to what we're making now?
- I'm sooo nervouss, I've never partnered with any other business..
- If we specialized, working together we would make 30 nails and 50 lashes, because we hold the absolute advantage in those products. We'll maximize economic gains and establish economic interdependency, which will improve both our companies and bring us peace of mind that we are not wasting valuable resources.OGCare30 nails GainsDolly's Beauty Bar50 lashes(+7)Total production30 nails50 Lashes(+13)
- I'm honestly speechless about how concise, straightforward, and clean your idea is. I love the fact that you did research prior to our meeting and brought me evidence of a possible near future.
- woww, mind blown
- Thank you, Ms. Val. Anywho, past the dramatics, lets go out to celebrate.
- yesssssss, relax relax
- I have to run over all the data again to verify, but I look forward to doing business with you Ms. Gabby.
- I can't say no to that!!
- Dinner on me!
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