There are two survivors of a plane crash, Jack and Sawyer, who live on a deserted island. In order to survive, they need to obtain food on the island, which comes in the form of fish or bears. The amount of food they can obtain each week is presented in the table below. Comparative Advantage Jack Sawyer Fish 16 8 Bears 4 3 Instructions: Round your answers to two decimal places. a. Use the information above to compute Jack's opportunity cost of each good. For Jack, the opportunity cost of catching 1 fish is For Jack, the opportunity cost of hunting 1 bear is bear(s). fish. b. Use the information above to compute Sawyer's opportunity cost of each good. For Sawyer, the opportunity cost of catching 1 fish is For Sawyer, the opportunity cost of hunting 1 bear is bear(s). fish. c. Who has the comparative advantage in each good? (Click to select) (Click to select) has the comparative advantage in catching fish since (Click to select) has the comparative advantage in hunting bears since (Click to select)

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter3: Interdependence And The Gains Rrom Trade
Section3.2: Comparative Advantage: The Driving Force Of Specialization
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am. 160.

There are two survivors of a plane crash, Jack and Sawyer, who live on a deserted island. In order to survive, they need to obtain food
on the island, which comes in the form of fish or bears. The amount of food they can obtain each week is presented in the table
below.
Comparative Advantage
Jack
Sawyer
Fish
16
8
Bears
4
3
Instructions: Round your answers to two decimal places.
a. Use the information above to compute Jack's opportunity cost of each good.
For Jack, the opportunity cost of catching 1 fish is
For Jack, the opportunity cost of hunting 1 bear is
bear(s).
fish.
b. Use the information above to compute Sawyer's opportunity cost of each good.
For Sawyer, the opportunity cost of catching 1 fish is
For Sawyer, the opportunity cost of hunting 1 bear is
bear(s).
fish.
c. Who has the comparative advantage in each good?
(Click to select)
(Click to select)
has the comparative advantage in catching fish since (Click to select)
has the comparative advantage in hunting bears since (Click to select)
Transcribed Image Text:There are two survivors of a plane crash, Jack and Sawyer, who live on a deserted island. In order to survive, they need to obtain food on the island, which comes in the form of fish or bears. The amount of food they can obtain each week is presented in the table below. Comparative Advantage Jack Sawyer Fish 16 8 Bears 4 3 Instructions: Round your answers to two decimal places. a. Use the information above to compute Jack's opportunity cost of each good. For Jack, the opportunity cost of catching 1 fish is For Jack, the opportunity cost of hunting 1 bear is bear(s). fish. b. Use the information above to compute Sawyer's opportunity cost of each good. For Sawyer, the opportunity cost of catching 1 fish is For Sawyer, the opportunity cost of hunting 1 bear is bear(s). fish. c. Who has the comparative advantage in each good? (Click to select) (Click to select) has the comparative advantage in catching fish since (Click to select) has the comparative advantage in hunting bears since (Click to select)
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