4. Determine the opportunity cost for sneakers and smart phones if country X can produce either 70 sneakers and 30 smart phones. 5. Determine the opportunity cost for cabinets and tables if John spends 25
hours to make a cabinet and 20 hours to make a table.
6. If country Y needs to use 100 acres of land to produce 100 bushels of oranges and uses 80 acres to produce 100 bushels of lemons, determine the opportunity cost of each item.

Sri lanka is one of the major tea producing nations in the world. a substantial portion of the country's annual tea production gets exported to various countries, including the united arab emirates, russia, and other countries in the middle east. given the success in these countries, sri lanka decided to foray into the asian market. research evidence indicated that people in myanmar are major consumers of tea and that there is a high demand for tea in that country. this convinced industry experts in sri lanka that exporting to myanmar was a good idea. even though sri lankan tea was priced competitively, sales in myanmar turned out to be far lower than expected. which of the following, if true, could explain this outcome? a. myanmar exported a substantial amount of its annual tea production that year. b. the tea exported from sri lanka is of the highest quality. c. the myanmar government hiked the minimum wage for labor. d. people in myanmar are willing to pay more for their domestic tea brands than for foreign brands. e. sri lankan tea exports to other asian countries like india and china have also not been very successful.