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Suppose that Cuba produces sugar and tobacco using its land On cach acre of land it can produce 5 DV tons of sugar or 2 tons of tobacco Cuba has 500000 acres available for growing

Suppose that Cuba produces sugar and tobacco using its land. On cach acre of land, it can produce 5 DV tons of sugar or 2 tons of tobacco. Cuba has 500,000 acres available for growing sugar or tobacco. Suppose that The Bahamas also produces sugar and tobacco using its land. On each acre of land, it can produce 10 tons of sugar or 5 tons of tobacco. The Bahamas has 10,000 acres available for growing sugar or tobacco. . Draw Cuba's PPF for producing sugar and tobacco. Label everything carefully. Make sure that your PPF shows Cuba using all of its resources. 2. In Cuba, what is the opportunity cost of producing 2 tons of tobacco? 3. In Cuba, what is the opportunity cost of producing 1 ton of tobacco? 4. In the Bahamas, what is the opportunity cost of producing 1 ton of tobacco? 5. Which country has the absolute advantage in producing tobacco? How do you know? Explain abso ortunit Produc2 using full sentences. Which country has the comparative advantage in producing tobacco? How do you know? Explain using full sentences llny has

May 15 2020 Read more Less More

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