Comparative advantage in producing fish

Assignment Help Business Economics

Reference no: EM131002391

Suppose that Kiribati can produce 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish. a. What is the opportunity cost of 1 unit of fish in Kiribati? Show your work. b. What is the opportunity cost of 1 unit of fish in Tuvalu? Show your work. c. Which country has a comparative advantage in producing fish? Explain why. d. Suppose that trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Explain why.

Reference no: EM131002391

Questions Cloud

Ethical behavior of companies regarding financial accounting : Write a 350-word response to the following: Do you think the Sarbanes-Oxley Act has made a difference in the ethical behavior of companies regarding their financial accounting? Why or why not?

Two-parameter regression model : The following is a set of residuals from a two-parameter regression model:

Find an area with dim lighting to conduct this experiment : Find an area with dim lighting to conduct this experiment. Stand next to the participant and instruct him/her to focus on a distant object. Quickly shine the light into the right eye.

Why does having good plans help project teams : "Why does having good plans help project teams during project execution? Why is it difficult to develop good plans

Comparative advantage in producing fish : Suppose that Kiribati can produce 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish. What is the opportunity cost of 1 unit of fish in Kiribati? Show your work. What is the opportunit..

Compare the population means : Carry out a two-sample t test to compare the population means. What assumptions are required for this to be a valid test? At the α = 0.05 signi?cance level, what does this result imply about the null hypothesis?

Discuss the similarities and differences between organisms : An essay: Discuss the similarities and differences between organisms in the domains Bacteria and Archaea.

Explain how this is reflected in the accounting records : Explain how this is reflected in the accounting records if the shares are formally retired.

What could the government do to increase consumer spending : If the economy is operating at a point less than full employment (as it is now), what would we want to see happen to GDP? For right now, let's just look at the C (consumption) component of our GDP equation. What would we want to see happen to consume..

User Account

All Pages