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For questions (I 0)-(11), suppose that the US. does not trade with France any more, but with another country, FaityLand. PCT/PWT = 1/2. (10). The
For questions (I 0)-(11), suppose that the US. does not trade with France any more, but with another country, FaityLand. PCT/PWT = 1/2. (10). The US. produces and exports wine. (11). The opportunity cost of cheese (in terms of wine) for FairyLand is lower than one half
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