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consider Australia and Japan which can both produce liquified natural gas or passenger vehicle. In a year, Australia can produce 80 billion tonnes of LNG
consider Australia and Japan which can both produce liquified natural gas or passenger vehicle. In a year, Australia can produce 80 billion tonnes of LNG or it can produce 2.0 million passenger vehicles. In a year, Japan can produce 120 billion tonnes of LNG or it can produce 6.0 million passenger vehicles. 1. explain which country has the comparative advantage in passenger vehicles. 2. if Australia were to trade it's 40 billion of LNG for passenger cars from Japan what is the minimum number of cars Australia would accept band what is the maximum number of passenger vehicles Japan would pay? why
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