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Loaves of bread for bakeries in the macro islands

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Reference no: EM132550499

Meagen and Jim both produce pies and loaves of bread for bakeries in the Macro Islands. The table above shows some of the combinations of the two products that can be produced using the same resources.

Use the table above to answer the following questions:

-What is Meagen's opportunity cost for producing 1 pie and 1 loaf of bread?

-What is Jim's opportunity cost for producing 1 pie and 1 loaf of bread?

-Who has the comparative advantage in the production of each good?

Reference no: EM132550499

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