File Types pdf and jpg Please review the table below and answer the questions as

Question

File Types pdf and jpg Please review the table below and answer the questions as indicated. Show and explain your work as necessary French Production of Organic Tofu French Production of Weapons Grade U.S. Production of U.S. Production of Weapons Grade Organic Tofu (in millions of tons) 165 Plutonium (in ounces) (in millions of tons) Plutonium (in ounces) 195 145 135 165 115 125 165 135 125 195 135 1. The opportunity cost of one unit of Weapons Grade Plutonium in France is and the opportunity cost of one unit of Organic Tofu in France is 2. The opportunity cost of one unit of Weapons Grade Plutonium in the United States is and the opportunity cost of one unit of Organic Tofu in the United States is and the United States should When trading, France should specialize in specialize in 3. 11/20/2017 https:/lecourses.tvec.edu/courses/1575/assignments/47155?module_item_id-143517

Explanation / Answer

Opportunity cost of weapon grade = change in output of organic tofu / change in output of weapon grade

Similarly, Opportunity cost of organic tofu = change in output of weapon grade / change in output of organic tofu

1. In France, opportunity cost of

weapon grade = 195-165 / 115-0 = 0.26

organic tofu = 115-0/195-165 = 3.83

2. IN U.S, opportunity cost of

weapon grade = 165-145 / 135-0 = 0.14

organic tofu = 135-0/165-145 = 6.75

3. A country should specialize in which it has lesser opportunity cost. Thus france should specialize in organic tufo and U.S should specialize in weapon grade.

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