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Assume that the Kiribati can manufacture 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish.
a) Calculate the opportunity cost of 1 unit of fish in Kiribati?
b) Calculate the opportunity cost of 1 unit of fish in Tuvalu?
c) Which country has a comparative advantage for producing fish? Why?
d) Assume trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Why?

International Economics, Economics

  • Category:- International Economics
  • Reference No.:- M9310459

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