b 34 pound of soybeans and Colombias opportunity cost of one pound of coffee is

B 34 pound of soybeans and colombias opportunity cost

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b. 3/4 pound of soybeans and Colombia’s opportunity cost of one pound of coffee is 2 pounds of soybeans.c. 4/3 pounds of soybeans and Colombia’s opportunity cost of one pound of coffee is 1/2 pound of soybeans.d. 4/3 pounds of soybeans and Colombia’s opportunity cost of one pound of coffee is 2 pounds of soybeans.
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2.Refer to Figure 3-19. Chile’s opportunity cost of one pound of soybeans is 3.Refer to Figure 3-19. Chile would incur an opportunity cost of 36 pounds of coffee if it increased its production ofsoybeans by 4.Refer to Figure 3-19. Colombia would incur an opportunity cost of 24 pounds of coffee if it increased itsproduction of soybeans by 5.Refer to Figure 3-19. Chile has an absolute advantage in the production of a. coffee and Colombia has an absolute advantage in the production of soybeans.b. soybeans and Colombia has an absolute advantage in the production of coffee. c. both goods and Colombia has an absolute advantage in the production of neither good. d. neither good and Colombia has an absolute advantage in the production of both goods.
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6.Refer to Figure 3-19. Chile has a comparative advantage in the production of 7.Refer to Figure 3-19. If Chile and Colombia switch from each country dividing its time equally between theproduction of coffee and soybeans to each country spending all of its time producing thegood in which it has acomparative advantage, then total production of soybeans will increase by
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