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There are only two countries on the planet of Disney: Tomorrowland and Fantasyland. Each country has astraight line PPF. The economy of Tomorrowland can produce
There are only two countries on the planet of Disney: Tomorrowland and Fantasyland. Each country has astraight line PPF. The economy of Tomorrowland can produce either 10 gadgets or 15 widgets and the economy of Fantasyland can produce either 2 gadgets or 6 widgets.
Assume that Tomorrowland and Fantasyland decide to specialize and trade with one another. In Fantasyland, the opportunity cost of 1 gadget is _____ widgets, and Fantasyland should specialize in producing _____ .
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