Terms of Trade, one last time.

Last updated almost 3 years ago

1 question

Note from the author:

Let's practice terms of trade one last time. 

Instructions

Let's practice terms of trade one last time. 

What is the opportunity cost for producing one of each product?
Circle, in green, the cell that shows which country has the comparative advantage in laptops.
Circle, in red, the cell that shows which country has the comparative advantage in phones.
On the bottom, what is the terms of trade that benefits both countries? That is, 1 laptop for ___ phones.