uppose that Canada produces only lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish daily. 4. What is the opportunity cost of producing 1 foot of lumber?  5. Use your graph to determine how many fish can be caught if 60 million feet of lumber are cut.

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
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2-2b Suppose that Canada produces only lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish daily.

4. What is the opportunity cost of producing 1 foot of lumber? 

5. Use your graph to determine how many fish can be caught if 60 million feet of lumber are cut.

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