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The following table describes production possibilities for United States and Nigeria. Each number in the table shows the number of workers needed to produce one unit of the product.

Countryshoesrefrigerators
United States712
Nigeria1015

Suppose that both countries have 80 workers. What is the opportunity cost of producing shoes in United States?

refrigerators

 

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What is the opportunity cost of producing refrigerators in United States?

shoes

 

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What is the opportunity cost of producing shoes in Nigeria?

refrigerators

 

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What is the opportunity cost of producing refrigerators in Nigeria?

shoes

 

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Which country has an absolute advantage in producing shoes?

 

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Which country has an absolute advantage in producing refrigerators?

 

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Which country has a comparative advantage in producing refrigerators?

 

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Which country has a comparative advantage in producing shoes?

 

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Which country should be specializing in the production of refrigerators?

 

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Which country should be specializing in the production of shoes?

 

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Which country should be exporting shoes?

 

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Which country should be exporting refrigerators?

 

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Suppose that The U.S. takes all of their workers to produce shoes. How much of the product can they produce?

 

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Suppose that The U.S. takes all of their workers to produce refrigerators. How much of the product can they produce?

 

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Suppose that Nigeria takes all of their workers to produce shoes. How much of the product can they produce?

 

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Suppose that Nigeria takes all of their workers to produce refrigerators. How much of the product can they produce?

 

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