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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Macroeconomics

ISBN: 9781264112456

22nd Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Mar 02, 2024 01:00 PM

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Suppose that the opportunity-cost ratio for fish and lumber is 1F 1L in Canada but 2F

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b Iceland Canada In economics the opportunity cost ratio represents the relativ...View the full answer

Macroeconomics

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