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1. The following represents the production possibilities in the following two cou ntries. {a} Which country has a comparative advantage at producing Good X? {lo}

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1. The following represents the production possibilities in the following two cou ntries. {a} Which country has a comparative advantage at producing Good X? {lo} How can you tell? (Hint: opportunity cost} {c} Which country has a comparative advantage at producing Good Y? {cl} lnclicate how both countries can gain from trade? Use the following data to answer the following questions: Untied States can produce either 18 oranges or 9 apples in an hour, whereas, Mexico can produce either 1a oranges or 4 apples in an hour. 2. 1Ill'v'hat are the opportunity costs of producing 1 apple for United States and Mexico respectively? 3. 1I.I'l."hat are the terms of trade between apples and oranges that would allow both Untied States and Mexico to gain by specialization and exchange

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