Steve and Craig have been shipwrecked on a deserted island in the South Pacific. Their economic activity consists of spending four hours a day either gathering pineapples or fishing. We know Steve can catch four fish in one hour or harvest two baskets of pineapples. In the same time Craig can reel in two fish or harvest two baskets of pineapples. (Assume Craig and Steve both operate on straight line production possibilities curves.) How many of each product will Steve produce in a day? How many of each products will Craig produce in a day? What will their maximum total production per day be of each good? What is Steve's opportunity cost of producing a basket of pineapples? Of producing a fish? What is Craig's opportunity cost of producing a basket of pineapples? Of producing a fish? Who should focus on producing pineapples? N o gk wp = Who should focus on producing fish