Using Table 2-1, explain why the United States and Brazil are willing to engage in a trade
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Using Table 2-1, explain why the United States and Brazil are willing to engage in a trade of 10 large jets for 15 small jets.
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TABLE 2-1 U.S. and Brazilian Opportunity Costs of Small Jets and Large Jets 1 small jet 1 large jet U.S. opportunity cost 3/4 large jet 4/3 small jets Brazilian opportunity cost 1/3 large jet 3 small jets
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