Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 2 - The Key Principles of Economics - Exercises - 2.3 The Principle of voluntary Exchange - Page 45: 3.6a

Answer

50 fish

Work Step by Step

If the boat builders are chosen at random, it can be expected that half will come from the group that catches 2 fish and half will come from the group that catches 8 fish. The opportunity cost of building the boat is therefore $(5\times2)+(5\times8)=10+40=50\ $fish
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