The following table illustrates the production capabilities of Ohio and Michigan. The two states each have the ability to make footballs and basketballs as shown:
|
Ohio
|
Michigan
|
|
Footballs
|
3 per hour
|
1 per hour
|
|
Basketballs
|
6 per hour
|
4 per hour
|
Using this table, you must find the opportunity costs of production. Fill in the blanks below.
Michigan's opportunity cost of producing a football is basketballs.
Ohio's opportunity cost of producing a football is basketballs.
Who has the comparative advantage in producing a football? The comparative advantage in football production belongs to.
Enter M for Michigan or O for Ohio.