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Assume that Saudi Arabia's opportunity cost of producing oil in terms of corn is 1 / 4 , and its opportunity cost of producing corn
Assume that Saudi Arabia's opportunity cost of producing oil in terms of corn is 1 / 4 , and its opportunity cost of producing corn in terms of oil is 4 . Also assume that the United States' opportunity cost of producing oil in terms of corn is 2 , and its opportunity cost of producing corn in terms of oil is 1 / 2 . Which nation has the comparative advantage in oil production? Select the correct answer below: neither both Saudi Arabia United States
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