Robinson and Crusoe live on a desert island. They spend their time either fishing or collecting coconuts. In one hour, Robinson can catch seven fish or harvest five coconuts. Crusoe, in one hour can catch only four fish, or harvest three coconuts.
a) What is each individual's opportunity cost of fish, expressed in terms of coconuts? Who has an absolute advantage in the production of coconuts? Who has a comparative advantage in the production of coconuts?