Based on the concrete opportunity cost and the situation described above, the statement that suture regarding Japan and Canada is that Japan would be economically better off if it produced cars and traded with Canada for bacon.
Opportunity cost is an economic term that is used to describe the time and money spent time spent in studying and assembling or producing something else.
In other words, opportunity cost simply means the value of what a business or individuals have to give up to choose something else.
For example, as in this case, if Japan chooses to make a car, the opportunity cost is giving up 2 units of bacon. And if Canada chooses to make this one car, it uses 4.5 units of bacon.
This implies that Japan can easily provide cars at a cheaper cost than Canada.
Hence, in this case, it is concluded that the statement is correct in that Japan would be economically better off if it produced cars and traded with Canada for bacon.
Learn more about Opportunity Cost here: https://brainly.com/question/481029
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