The remote island nations of Nearway and Farway produce fish and coconuts and have recently decided to engage in trade with one another. Without trade,
The remote island nations of Nearway and Farway produce fish and coconuts and have recently decided to engage in trade with one another. Without trade, Nearway can produce either 400 coconuts or 200 fish and Farway can produce either 450 coconuts or 300 fish. And without trade, the two countries choose the production of each good such that its people can consume some of each. The table below summarizes the maximum outputs as well as the chosen output level for both countries. T s Chosen Production Calculate the opportunity costs of producing fish and coconuts in Nearway and Farway, and then complete the table below. (Round your responses to two decimal places.) Opportunity Cost
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