On an island, a worker, in an hour, can produce one fish or two baskets. a. What
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On an island, a worker, in an hour, can produce one fish or two baskets.
a. What is the opportunity cost of a fish?
b. Suppose the worker becomes twice as efficient, producing in an hour two fish or four baskets. How has the opportunity cost of a fish changed?
c. What would cause the opportunity cost of a fish to increase?
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