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Two castaways, Friday and Robinson, are on opposite sides of a cold island. Neither castaway is aware of the other. They both produce clothes and

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Two castaways, Friday and Robinson, are on opposite sides of a cold island. Neither castaway is aware of the other. They both produce clothes and food. This table and diagram show how much of each product they can produce if all their time and resources go to making that product: (6 points) Daily Production Possibilites (pounds) Clothes Food Friday 8 12 Robinson 8 Now they "discover" one another and discuss whether they should trade with one another by analyzing their opportunity costs. Calculate these opportunity costs and report them in the table below. (Show your calculations in the blank space below the table. Find formulas in the text or Class Outline page 6) Opportunity Cost Clothes Food Friday b of food/1 lb of clothes lb of clothes/1 lb of food lb of food/1 b of clothes lb of clothes/1 lb of food Robinson in Food? Who has a comparative advantage in Clothes? Page 1 of 2

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