Question

Fill in each blank with the correct number from the table.
Based on the data in the table, the opportunity cost for Country A to produce 16 units of petroleum is
units of seafood.
The opportunity cost for Country B to produce 8 units of petroleum is
units of seafood.

Answer 1

I don't have the table you mention, so I can't compute the numeric answers. Please paste the table (or the production possibilities for each country) and I will fill in the blanks.

If you want to compute them yourself, here are the steps:

- Find two production points for the country that show how seafood changes when petroleum changes (or use the endpoints of the PPF).
- Compute the slope (opportunity cost per unit petroleum) = Δseafood / Δpetroleum (this will be a negative number; use its absolute value).
- Multiply that per-unit opportunity cost by the petroleum amount asked.

Example: if Country A can produce either 40 seafood & 0 petroleum or 0 seafood & 16 petroleum, then Δseafood = 40 − 0 = 40 when Δpetroleum = 0 − 16 = −16, so opportunity cost per 1 petroleum = 40/16 = 2.5 seafood; for 16 petroleum the cost = 16 × 2.5 = 40 seafood.

Send the table and I'll compute the exact answers.