calculate the opportunity costs for each good.\nscore: 200\ncars built per month boats built per…

calculate the opportunity costs for each good.\nscore: 200\ncars built per month boats built per month\ncountry a 60 120\ncountry b 15 60\ncountrya\noc of 1 car = boats\nfraction\noc of 1 boat = cars\nfraction\ncountryb\noc of 1 car = boats\nfraction\noc of 1 boat = cars\nfraction

calculate the opportunity costs for each good.\nscore: 200\ncars built per month boats built per month\ncountry a 60 120\ncountry b 15 60\ncountrya\noc of 1 car = boats\nfraction\noc of 1 boat = cars\nfraction\ncountryb\noc of 1 car = boats\nfraction\noc of 1 boat = cars\nfraction

Answer

Explanation:

Step1: Calculate opportunity - cost of 1 car in Country A

The formula for opportunity - cost is $\text{Opportunity Cost}=\frac{\text{Quantity of other good forgone}}{\text{Quantity of the good produced}}$. For Country A, if it produces 1 car, the number of boats it gives up is calculated as $\frac{120}{60} = 2$ boats.

Step2: Calculate opportunity - cost of 1 boat in Country A

If Country A produces 1 boat, the number of cars it gives up is $\frac{60}{120}=\frac{1}{2}$ cars.

Step3: Calculate opportunity - cost of 1 car in Country B

For Country B, if it produces 1 car, the number of boats it gives up is $\frac{60}{15}=4$ boats.

Step4: Calculate opportunity - cost of 1 boat in Country B

If Country B produces 1 boat, the number of cars it gives up is $\frac{15}{60}=\frac{1}{4}$ cars.

Answer:

Country A: OC of 1 Car = 2 boats OC of 1 Boat = $\frac{1}{2}$ cars Country B: OC of 1 Car = 4 boats OC of 1 Boat = $\frac{1}{4}$ cars