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Tom Hanks and a man named Wilson are stranded on a tropical island. In one hour Tom can cut down 12 coconuts or catch 8 fish. In one hour Wilson can cut down 14 coconuts or catch 7 fish.
A) Who has the comparative advantage at producing coconuts?
B) Who has the comparative advantage at producing fish?
C) What is Tom's opportunity cost of producing a coconut?
D) If Tom and Wilson specialize and trade with each other, what is the range of acceptable terms of exchange of coconuts for fish?
Choose five (5) different communication methods listed in Chapter 8. Draft a form of communication for each of the four (4) scenarios listed below based on one or more of the different communication methods listed in Chapter 8.
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