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Mathematics, 18.12.2019 23:31 andrewmena05
Tom hanks and a man named wilson are stranded on a tropical island. in one hour tom can cut down 5 coconuts or catch 11 fish. in one hour wilson can cut down 15 coconuts or catch 6 fish. a) who has the comparative advantage at producing coconuts? b) who has the comparative advantage at producing fish? c) what is tom's opportunity cost of producing a coconut? d) if tom and wilson specialize and trade with each other, what is the range of acceptable terms of exchange of coconuts for fish?
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Tom hanks and a man named wilson are stranded on a tropical island. in one hour tom can cut down 5 c...
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