Congaree's opportunity cost of producing 1 pair of chinos is of pistachios, and Yosemite's opportunity cost of
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- Congaree's opportunity cost of producing 1 pair of chinos is of pistachios, and Yosemite's opportunity cost of producing 1 pair of chinos is of pistachios. Therefore, has a comparative advantage in the production of chinos, and has a comparative advantage in the production of pistachios.
- Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces chinos will produce
- million pairs per week, and the country that produces pistachios will produce
- million pounds per week.
Related Book For
Introduction To Economics Social Issues And Economic Thinking
ISBN: 9780470574782
1st Edition
Authors: Wendy A. Stock
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