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10. What are the opportunity costs of a university education? 11. Do you think the Canadian government should spend tax dollars on trade missions? Why

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10. What are the opportunity costs of a university education? 11. Do you think the Canadian government should spend tax dollars on trade missions? Why or why not? 12.Assume that there are two nations in the world, Italy and India, and that they can produce only two products. Each country uses half of its resources on each product. They can produce the following: Pairs of Shoes Computers Italy 8,000 2.000 India 10,000 20,000 a) If the two countries do not trade, how many pairs of shoes and computers will be produced? b) India has an absolute advantage in both products. What does this mean? c) Calculate the opportunity cost of producing a pair of shoes for both countries

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