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Assume that the comparative-cost ratios of two productsEcon Books and Finance Booksare as follows in the nations of Econ Land and Finance Land: Econ Land:

Assume that the comparative-cost ratios of two productsEcon Books and Finance Booksare as follows in the nations of Econ Land and Finance Land:

Econ Land: 1 Finance Book 3 Econ Books

Finance Land: 1 Finance Book 5 Econ Books

In what product should each nation specialize? Explain why for credit. What would be an acceptable terms of trade between Econ Land and Finance Land.

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