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Assume that with one unit of production South Korea can produce 50 TVs or 40 tons of iron- ore, while Australia can produce 30 TVs
Assume that with one unit of production South Korea can produce 50 TVs or 40 tons of iron- ore, while Australia can produce 30 TVs or 600 tons of iron-ore. Assume further that each country dedicates a total of 1000 units of production for TVs and iron-ore. Do you think there can be a scenario where one country (either South Korea or Australia) can have both absolute advantage and comparative advantage?
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