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The table below describes the production possibilities for Germany and Turkey.Answer the following
The table below describes the production possibilities for Germany and Turkey. Answer the following
questions. Use formulas to show calculations for parts d thru i.
a) Graph Germany's and Turkey's production possibilities curve individually.
b) Graph the production possibilities curve for the combined output of the 2 nations.
c) What is the slope of Germany's production possibilities curve?
d) What is the slope of Turkey's production possibilities curve?
e) What is the opportunity cost of producing T-shirts in Germany?
f) What is the opportunity cost of producing T-shirts in Turkey?
g) What is the opportunity cost of producing optical instruments in Germany?
h) What is the opportunity cost of producing optical instruments in Turkey?
i) In which good does Germany have a comparative advantage?
j) In which good does Turkey have a comparative advantage?
