In a closed economy, who has the comparative advantage in catching fish? ?

  • Thread starter Thread starter Earl J
  • Start date Start date
E

Earl J

Guest
Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of berries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries.



a. Sheila and Jim
b. Only Jim
c. Sheila and Jim
d. Only Sheila
e. Neither of them
 
Back
Top