The Bahamas and India produce both pineapple and rice (both measured in tons). The tablebelow illustrates their production possibilities.The BahamasPineappleIndiaRiceRicePineapple1005090547.51080104515701542.52060204025502537.550100(a) In the Bahamas, what is the opportunity cost of a ton of pineapples, and of a ton of rice?(b) In India, what is the opportunity cost of a ton of pineapple, and of a ton of rice?(c) Which country has a comparative advantage in the production of pineapple?

Opportunity cost is the best next best cost , or next best alternative called opportunity cost, so…

(a) In the Bahamas, what is the opportunity cost of a ton of pineapples, and of a ton of rice? (b) In India, what is the opportunity cost of a ton of pineapple, and of a ton of rice? (c) Which country has a comparative advantage in the production of pineapple?

(a) In the Bahamas, what is the opportunity cost of a ton of pineapples, and of a ton of rice? (b) In India, what is the opportunity cost of a ton of pineapple, and of a ton of rice? (c) Which country has a comparative advantage in the production of pineapple?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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