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Consider the case where countries are free to specialize and trade. In the table below calculate each country's opportunity cost of producing one unit of

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Consider the case where countries are free to specialize and trade. In the table below calculate each country's opportunity cost of producing one unit of each good. Argentina Britain Canada barrel of crude oil 60 50 70 pound of beef 1 3 5 OC of 1 barrel of oil OC of 1 pond of beef Calculate the quantities of crude oil and beef produced in each country, consistent with the country's comparative advantage. Quantities produced Argentina Britain Canada Trade barrel of crude oil pound of beef

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