You Are the Minister of Trade for a Small Island

question 77

Multiple Choice

You are the Minister of Trade for a small island country in the South Pacific with the following annual production possibilities curve: You are negotiating a deal with a neighboring island that has the following annual PPC: Refer to the figure above. You have arrived with 300 coconuts to trade. The minimum number of fish you would be willing to accept in exchange for those coconuts:

• A) is 1,500 fish, because that's how many you can catch without trade.
• B) is 1,200 fish, because that is just enough to offset the opportunity cost of harvesting the coconuts.
• C) is 301 fish, because anything better than a one-for-one trade benefits your island.
• D) is 901 fish, because that is just a little more than the opportunity cost of harvesting the coconuts.

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