Two countries (Sri Lanka and Peru) produce two goods (cloth and fish) according to the following...

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Two countries (Sri Lanka and Peru) produce two goods (cloth and fish) according to the following...

Two countries (Sri Lanka and Peru) produce two goods (cloth and fish) according to the following table:

	Cloth (millions)	Fish (millions)
Sri Lanka	22.3	10.1
Peru	11.8	14.5

If 1 PER cloth = y PER fish, then find y (the opportunity cost of cloth in terms of fish for PERU).

Round your answer to two (2) decimal places

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Answer 1

Answer #1

The opportunity cost of cloth in terms of fish for Peru is 14.5/11.8= 1.228 fish.

Therefore, the opportunity cost of cloth in terms of fish for PERU is 1.27 fish.

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Answer 2

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