The discovery of a huge oil field could make Brazil a large exporter of gasoline. Until two

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The discovery of a huge oil field could make Brazil a large exporter of gasoline. Until two years ago Brazil imported oil; then it became self-sufficient in oil. With this discovery, Brazil will become a major exporter of oil.

Describe Brazil’s comparative advantage in producing oil, and explain why its comparative advantage has changed.

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Foundations Of Microeconomics

ISBN: 9780133477108

7th Edition

Authors: Robin Bade, Michael Parkin

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