Cheese360 in pounds)320 ➜280240200160120+0840+4080 120 160 200 240 280 320 360 400 Ham(in pounds)Refer to Figure 3-11. In the nation of Cropitia, the opportunity cost of a pound of cheese is 1.5 pounds ofham. Based on this information, if Bonovia and Cropitia want to trade, Cropitia should specialize, in theproduction ofa. ham and import cheese.b. cheese and import ham.C. both goods and import neither good.d. neither good and import both goods.

Import describes the purchase and shipment of goods and services from foreign countries into a…

Answered: 360 320 280 240 200 160 120 80 Cheese…

Business

Economics

360 320 280 240 200 160 120 80 Cheese Tin pounds) 40 + 40 80 120 160 200 240 280 320 360 400 Ham (in pounds)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Cheese
360 in pounds)
320 ➜
280
240
200
160
120
+08
40+
40
80 120 160 200 240 280 320 360 400 Ham
(in pounds)
Refer to Figure 3-11. In the nation of Cropitia, the opportunity cost of a pound of cheese is 1.5 pounds of
ham. Based on this information, if Bonovia and Cropitia want to trade, Cropitia should specialize, in the
production of
a. ham and import cheese.
b. cheese and import ham.
C. both goods and import neither good.
d. neither good and import both goods.

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