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Suppose that in a year, a Bermudian worker can produce 100 reinsurance contracts or 1 manufactured good, while an American worker can produce 1 reinsurance
Suppose that in a year, a Bermudian worker can produce 100 reinsurance contracts or 1 manufactured good, while an American worker can produce 1 reinsurance contract or 100 manufactured goods.
Bermuda has 1,000 workers, while the U.S. has 1 million workers.Draw a production possibilities frontier (PPF) for Bermuda and a separate PPF for the US.
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