Assume sam and betty live on a desert island With a day’s labor Sam can produce 8 fish or 2 coconuts
Assume sam and betty live on a desert island With a day’s labor Sam can produce 8 fish or 2 coconuts and Betty can produce 16 fish or 8 coconuts
A What is sam’s opportunity cost of producing 1 coconut? explain
B What is Betty’s opportunity cost of producing one coconut? (explain)
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C Which of these two has a comparative advantage in producing coconuts? (explain your reasoning)