Solved: Trade takes place between kiribati and tuvalu, Macroeconomics

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Trade takes place between kiribati and tuvalu

Suppose that Kiribati can produce 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish.

Q1. What is the opportunity cost of 1 unit of fish in Kiribati? Show calculation.

Q2. What is the opportunity cost of 1 unit of fish in Tuvalu? Show calculation.

Q3. Which country has a comparative advantage for producing fish? Why?

Q4. Suppose trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Why?

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Macroeconomics: Trade takes place between kiribati and tuvalu

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: Trade takes place between kiribati and tuvalu

Reference No:- TGS01744216

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: Trade takes place between kiribati and tuvalu

Reference No:- TGS01744216

Recent Questions Asked Macroeconomics

Q : Business comparative advantage and trade

Q : Economic cost of international trade

Q : Healthcare comparison between u.s. and canada

Q : Heckscher ohlin theory-shift from no trade to free trade

Q : Trade takes place between kiribati and tuvalu

Q : Example of a macroeconomics model

Q : Arguments for trade restrictions

Q : Bilateral trade-mutual agreements-economic sustainability

Q : Difference between average revenue and marginal revenue

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