The data below show the total production (in millions) of the only two goods produced in Kitchener and Waterloo, two small Kitchener: 16 kiwis or 12 trucks: Waterloo: 8 kiwis or 14 trucks What is the opportunity cost of a kiwi in Kitchener What is the opportunity cost of a kiwi in Waterloo? c) What is the opportunity cost of a truck in Kitchener? d) What is the opportunity cost of a truck in Waterloo! e) It. before trade. each planet was devoting half its resources to producing each prodi f the two planets were to specialize in producing the product they do best. what would be the total amount they could produce? What are the total gains as a result of specialization

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To determine the opportunity cost well use the concept of the production possibilities frontier PPF which shows the maximum amount of two goods that c... View the full answer