2. Suppose a country can produce a maximum of 12,000 jumbo airliners or 2,000 aircraft carriers. (a)
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2. Suppose a country can produce a maximum of 12,000 jumbo airliners or 2,000 aircraft carriers.
(a) What is the opportunity cost of an aircraft carrier?
(b) If another country offers to trade eight planes for one aircraft carrier, should the offer be accepted?
(c) What is the implied price of the carrier in trade?
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