Suppose that the opportunity-cost ratio for fish and lumber is 1F 1L in Canada but 2F
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Suppose that the opportunity-cost ratio for fish and lumber is 1F ≡ 1L in Canada but 2F ≡ 1L in Iceland. Then ______ should specialize in producing fish while should specialize in producing lumber.
a. Canada; Iceland
b. Iceland; Canada
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Related Book For
Macroeconomics
ISBN: 9781264112456
22nd Edition
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
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