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Rick and a man named Negan are stranded on a tropical island.In one hour Rick can cut down 4 coconuts or catch 8 fish. In
Rick and a man named Negan are stranded on a tropical island.In one hour Rick can cut down 4 coconuts or catch 8 fish. In one hour Negan can cut down 15 coconuts or catch 9 fish.
A)Who has the comparative advantage at producing coconuts?
B)Who has the comparative advantage at producing fish?
C) What is Rick's opportunity cost of producing a coconut?
D)If Rick and Negan specialize and trade with each other, what is the range of acceptable terms of exchange of coconuts for fish?
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