Question: This is one question, it was just too big to take one photo. You use the words at the bottom to fill in the blanks.
This is one question, it was just too big to take one photo. You use the words at the bottom to fill in the blanks.


Carol Baskin and Joe Exotic run competing Zoos specializing in tigers. They decide to put away their differences and partner together. Every day each of them can choose to do a combination of tours and videos for their personal youtube channels. They decide they need to specialize and trade. As such they need to decide who should do tours and who should do videos. They also need to decide what terms of trade they will use. Their Production Possibilities Curves are below. Joe Exotic Carol Baskin Videos Videos 3 2 15 Tours 4 lours Fill in the graph below. Answers may be used more than once, and some not at all. Videos Opportunity Cost Tours Opportunity Cost Equation setup Opp Cost Equation setup Opp Cost 1 video costs 1 tour costs Joe 3 15 Exotic tours videos 1 video costs 1 tour costs Carol 2 Baskin tours videosAcceptable Terms of trade would be 1 video for Who has an absolute advantage in Videos? Who has an absolute advantage in Tours? Who has a comparative advantage in Videos? Who has a comparative advantage in Tours? : .20 .25 #: .2667 .33 : .5 #: .80 : 1.25 #: 1.5 #: 2 13 #: 3.75 4 5 8 :: 12 # 15 #: Joe Exotic :: Carol Baskin
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