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Answer the question on the basis of the following information about the cost ratios for two products—fish (F) and chicken (C)—in countries Singsong and Harmony. Assume that production occurs under conditions of constant costs and these are the only two nations in the world.
Singsong: 1F = 2C
Harmony: 1F = 4C
Refer to the given information. If these two nations specialize based on comparative advantage:___________
A) Harmony will produce chicken and Singsong will catch fish.
B) Singsong will produce chicken and Harmony will catch fish.
C) Singsong will both produce chicken and catch fish.
D) Harmony will both produce chicken and catch fish.

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Answer:

(A) Harmony will produce chicken and Singsong will catch fish.

Explanation:

Harmony economy's ability will be able to produce chicken at a lower opportunity cost than that of Singsong while Singsong economy's ability will be able to produce fish at a lower opportunity cost than that of Harmony

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