Use the following to answer questions
Figure: Turtletopia and Frogland PPFs
-(Figure: Turtletopia and Frogland PPFs)We see that the two countries _____ benefit from trade,and that Frogland should specialize in producing _____ while Turtletopia should specialize in producing _____.

Question

Use the following to answer questions 
Figure: Turtletopia and Frogland PPFs
-(Figure: Turtletopia and Frogland PPFs)We see that the two countries _____ benefit from trade,and that Frogland should specialize in producing _____ while Turtletopia should specialize in producing _____.

Quizplus · Accepted Answer

From the graph, we see that both countries can benefit from trade as long as they specialize in producing the good that they have a comparative advantage in. Frogland's PPF is steeper for corn and lower for pork compared to Turtletopia's PPF. Therefore, Frogland should specialize in producing pork while Turtletopia should specialize in producing corn. This will allow both countries to produce more total output and consume a variety of goods at a lower opportunity cost.

Use the Following to Answer Questions