1. Thefollowing table shows the output per worker per dayineithermangoesorpapayasinSamoaandinFiji. Samoa Fiji Mangoes(intons) Papayas (in tons) 6...
Question:
1. Thefollowing table shows the output per worker per dayineithermangoesorpapayasinSamoaandinFiji.
Samoa Fiji Mangoes(intons)
Papayas (in tons)
6 12 2
6
a. The country that has an absolute advantage in producing mangoes is .
b. The country that has an absolute advantage in producing papayas is .
c. The opportunity cost of 1 ton of papayas in Samoa is .
d. The opportunity cost of 1 ton of papayas in Fiji is .
e. The country that has a comparative advantage in papayas is .
f. The opportunity cost of 1 ton of mangoes in Samoa is .
g. The opportunity cost of 1 ton of mangoes in Fiji is .
h. The country that has a comparative advantage in mangoes is .
i. The lowest price the mango producer would accept for a ton of mangoes is tons of papayas, and the highest price the papaya producer would pay for a ton of mangoes is tonsofpapayas.Ifthepriceof a ton of mangoes is not within these bounds, trade will not occur.
Step by Step Answer:
Fundamentals Of Economics
ISBN: 9781133956105,9781285531847
6th Edition
Authors: William Boyes, Michael Melvin