A) For each location, the table has the labor hours required to produce one unit.

	Lobster	Red pants
Cape Cod.	2	6
Nantucket	1	5

1. According to table: what is the opportunity cost of Cape Cod and Nantucket producing one Lobster?
2. According to table: what is the opportunity cost of Cape Cod and Nantucket producing a pair of red pants?
3. According to table: which location has a comparative advantage in the producing Lobster?
4. According to table: which location has a comparative advantage in the producing red pants?
5. According to table: which location has an absolute advantage in the producing Lobster?
6. According to table: which location has an absolute advantage in the producing a red pants?
7. According to table: which location should specialize in the production of Lobster and which location should specialize in the production of Red pants?
8. According to table: If Cape Cod and Nantucket were to trade lobster dinners and red pants, what is the range of possible prices (ie: prices acceptance to both locations) for a pair of red pants.
9. According to table: If Cape Cod and Nantucket were to trade lobster dinners and red pants, what is the range of possible prices (ie: prices acceptance to both locations) for a lobster.

B) Workers in each city can produce the following number of belts and pens in one day.

	Belts	Pens
Salem	18	24
Lynn	18	36

1. According to table: what is the opportunity cost of Salem and Lynn producing one belt?

1. According to table: what is the opportunity cost of Salem and Lynn producing one pen?
2. According to table: which city has a comparative advantage in the producing belts?
3. According to table: which city has a comparative advantage in the producing pens?
4. According to table: which city has an absolute advantage in the producing belts?
5. According to table: which city has an absolute advantage in the producing pens?
6. According to table: which city should specialize in the production of belts and which city should specialize in the production of pens?
7. According to table: If Salem and Lynn were to trade belts and pens, what is the range of possible prices (ie: prices acceptance to both locations) for a belt?
8. According to table: If Salem and Lynn were to trade belts and pens, what is the range of possible prices (ie: prices acceptance to both locations) for a pen?

C) For each location, the table has the labor hours required to produce one unit.

	Tacos	Hot Dogs
Reid	4	12
Bob	2	10

1. According to table: what is the opportunity cost of Reid and Bob producing one Taco?
2. According to table: what is the opportunity cost of Bob producting one hot dog?
3. According to table: which location has a comparative advantage in the producing Tacos?
4. According to table: which location has a comparative advantage in the producing Hot Dogs?
5. According to table: which location has an absolute advantage in the producing o Tacos?
6. According to table: which location has an absolute advantage in the producing Hot Dogs?
7. According to table: which location should specialize in the production of Tacos and which location should specialize in the production of Hot Dogs?
8. According to table: If Reid and Bob were to trade tacos and hot dogs, what is the range of possible prices (ie: prices acceptance to both locations) for a hot dog.
9. According to table: If Reid and Bob were to trade tacos and hot dogs, what is the range of possible prices (ie: prices acceptance to both locations) for a taco.

D) Workers in each city can produce the following number of shoes per day.

	Yellow Shoes	Blue Shoes
Chicago	12	6
New York	16	4

1. According to table: what is the opportunity cost of Chicago and New York producing one yellow shoe?
2. According to table: what is the opportunity cost of Chicago and New York producing one blue shoe?
3. According to table: which city has a comparative advantage in the production of yellow shoes?
4. According to table: which city has a comparative advantage in the production of blue shoes?
5. According to table: which city has an absolute advantage in the production of yellow shoes?
6. According to table: which city has an absolute advantage in the production of blue shoes?
7. According to table: which city should specialize in the production of yellow shoes and which location should specialize in the production of blue shoes?
8. According to table: If Chicago and New York were to trade yellow shoes and blue shoes, what is the range of possible prices (ie: prices acceptance to both locations) for a yellow shoe.
9. According to table:If Chicago and New York were to trade yellow shoes and blue shoes, what is the range of possible prices (ie: prices acceptance to both locations) for a blue shoe.

E) Workers in the United States and Norway can produce the following number of ships and barrels of crude oil in one year

	Cruise ships	Crude Oil (millions)
United States	6	12
Norway	6	8

1. According to table: what is the opportunity cost of United States and Norway producing one cruise ship?
2. According to table: what is the opportunity cost of United States and Norway producing a million barrels of crude oil?
3. According to table: which city has a comparative advantage in the production of cruise ships?
4. According to table: which city has a comparative advantage in the production of crude oil?
5. According to table: which city has an absolute advantage in the production of cruise ships?
6. According to table: which city has an absolute advantage in the production of crude oil?
7. According to table: which city should specialize in the production of cruise ships and which location should specialize in the production of crude oil?
8. According to table: If Norway and United States were to trade cruise ships and crude oil, what is the range of possible prices (ie: prices acceptance to both locations) for a million barrels of crude cruise ship?
9. According to table: If Norway and United States were to trade cruise ships and crude oil, what is the range of possible prices (ie: prices acceptance to both locations) for a million barrels of crude oil?

F) Workers units required in each area to produce the following number of ships and barrels of crude oil in one year.

	Cruise ships	Barrels Crude Oil (millions)
Norway	6	8
United States	6	2

1. According to table: what is the opportunity cost of United States and Norway producing one cruise ship?
2. According to table: what is the opportunity cost of United States and Norway producing a million barrels of crude oil?
3. According to table: which city has a comparative advantage in the production of cruise ships?
4. According to table: which city has a comparative advantage in the production of crude oil?
5. According to table: which city has an absolute advantage in the production of cruise ships?
6. According to table: which city has an absolute advantage in the production of crude oil?
7. According to table: which city should specialize in the production of cruise ships and which location should specialize in the production of crude oil?
8. According to table: If Norway and United States were to trade cruise ships and crude oil, what is the range of possible prices (ie: prices acceptance to both locations) for a million barrels of crude cruise ship?
9. According to table: If Norway and United States were to trade cruise ships and crude oil, what is the range of possible prices (ie: prices acceptance to both locations) for a million barrels of crude oil?

G)

	Number of cans of baked beans produced per worker per hour	Number of cans of baked beans produced per worker per hour
Tampa	6	4
Boston	8	2

1. According to table: what is the opportunity cost of Tampa and Boston producing one can of baked beans?
2. According to table: what is the opportunity cost of Tampa and Boston producing one can of white beans?
3. According to table: which city has a comparative advantage in the production of baked beans?
4. According to table: which city has a comparative advantage in the production of white beans?
5. According to table: which city has an absolute advantage in the production of baked beans?
6. According to table: which city has an absolute advantage in the production of white beans?
7. According to table: which city should specialize in the production of baked beans and which location should specialize in the production of white beans?
8. According to table: If Tampa and Boston were to trade baked beans and white beans, what is the range of possible prices (ie: prices acceptance to both locations) for baked beans?
9. According to table: If Tampa and Boston were to trade baked beans and white beans, what is the range of possible prices (ie: prices acceptance to both locations) for white beans?