Narnia and the Shire The production possibilities curves below give the alternatives available to two countries that are

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Narnia And The Shire The Production Possibilities Curves Below Give The Alternatives Available To Two Countries That Are 1 (37.01 KiB) Viewed 36 times

Narnia and the Shire The production possibilities curves below give the alternatives available to two countries that are producing rings and wardrobes, using equal amounts of resources. Wardrobes 10 Namia's PPC Shire's PPC 2 A Calculate the opportunity cost of producing a wardrobe in the Shire. B. Calculate the opportunity cost of producing a ring in Narnia. Rings C. Which nation has the comparative advantage in wardrobe production? D. Which nation has the comparative advantage in ring production? Assume that the productivity of Narnia's workers triples for each good. E. Which country has a comparative advantage in ring production? Explain your answer.