Bill and Fred bake cakes and pies.  Bill's opportunity cost of baking 1 pie is 3 cakes.  Fred's opportunity cost of baking 1 pie is 5 cakes.  Who should bake the pie? Group of answer choices Fred Bill   A country should specialize in producing the goods for which it has the highest opportunity cost. Group of answer choices True False   If a country has a comparative advantage in producing fish, then they must also have an absolute advantage in producing fish. Group of answer choices True False

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Q: Suppose that one day of labor in each country produces the following quantities of fish and cheese:…

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