Vietnam and Ecuador both produce shrimp and rice. Vietnam can produce 260,000 pounds of shrimp or 65,000 pounds of rice in a year. Ecuador can produce 110,000 pounds of shrimp or 10,000 pounds of rice in a year. Instructions: Enter your answers as a whole number. a. What is Vietnam's opportunity cost of producing one pound of rice? pounds of shrimp b. What is Ecuador's opportunity cost of producing one pound of rice? pounds of shrimp c. Now assume the two countries decide to specialize and trade with each other. The country that produces rice will sell one pound of rice for no less than pounds of shrimp The other country will pay no more than pounds of shrimp for one pound of rice.
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