The United States can produce 80 fish or 20 chips. England can produce 100 fish or 50 chips. With the information above answer the following questions. 1. The opportunity cost of 1 unit of Fish in the...

Extracted text: The United States can produce 80 fish or 20 chips. England can produce 100 fish or 50 chips. With the information above answer the following questions. 1. The opportunity cost of 1 unit of Fish in the U.S. is? 2. The opportunity cost of 1 unit of Chips in the U.S. is? 3. The opportunity cost of 1 unit of Fish in England is? 4. The opportunity cost of 1 unit of Chips in England is? 5. Who has absolute advantage in chips? Explain. 6. Who has absolute advantage in fish? Explain. 7. Who has comparative advantage in chips? Explain? 8. Who has comparative advantage in fish? Explain?