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  3. 7 lo 6 the data below show the total production...

Question: 7 lo 6 the data below show the total production...

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7. (LO 6) The data below show the total production (in millions) of the only two goods produced in Kitchener and Waterloo, two small planets in deep space Kitchener: 16 kiwis or 12 trucks: Waterloo: 8 kiwis or 14 trucks a) What is the opportunity cost of a kiwi in Kitchener? b) What is the opportunity cost of a kiwi in Waterloo? c) What is the opportunity cost of a truck in Kitchener? d) What is the opportunity cost of a truck in Waterloo? c) If before trade, each planet was devoting half its resources to producing each product. what is tho total amount produced by both? f If the two planets were to specialize in producing the product they do best. what would be the total amount they could produce? g What are the total gains as a result of specialization?

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