Suppose the opportunity-cost ratio for fish and lumber is 1F = 1L in Canada but 2F = 1L in Iceland. Then. specialize in producing fish while. should should specialize in producing lumber. O Canada; Iceland O Iceland; Canada

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Q30

Suppose the opportunity-cost ratio for fish and lumber is 1F = 1L in Canada but 2F= 1L in Iceland. Then
specialize in producing fish while
should
30
should specialize in producing lumber.
O Canada; Iceland
O Iceland; Canada
Transcribed Image Text:Suppose the opportunity-cost ratio for fish and lumber is 1F = 1L in Canada but 2F= 1L in Iceland. Then specialize in producing fish while should 30 should specialize in producing lumber. O Canada; Iceland O Iceland; Canada
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