5. Suppose that the opportunity-cost ratio for fish and lumber is 1F 1L in Canada but...

Question:

5. Suppose that the opportunity-cost ratio for fish and lumber is 1F ≡ 1L in Canada but 2F ≡ 1L in Iceland. Then should specialize in producing fish while should specialize in producing lumber. LO26.2

a. Canada; Iceland.

b. Iceland; Canada.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: