(a) which island has an absolute advantage in producing coconuts? Explain. (b) Which island has a comparative advantage in producing coconuts?
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(a) which island has an absolute advantage in producing coconuts? Explain. (b) Which island has a comparative advantage in producing coconuts? Explain. (c) Assume Zeetopia and Freshland decide to specialize according to their comparative advantages and 1 ton of coconuts is exchanged for 1 ton of mangoes. Are specialization and trade under these terms beneficial to both Zeetopia and Freshland? Explain. (d) Assume the two islands experience constant opportunity costs in the production of the two products. Draw a correctly labeled graph illustrating Zeetopias and Freshlands production possibilities, showing coconuts in the horizontal axis and mangoes on the vertical axis. (e) On your graph in part (d), show a combination of coconuts and mangoes, labeled as point X that is unattainable for Freshland but feasible and ineffective for Zeetopia. 15841802

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