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Given the graph below: i. Who has an Absolute advantage in each of the goods? Explain. (1 mark) ii. Who has a Comparative advantage in

Given the graph below:

i. Who has an Absolute advantage in each of the goods? Explain. (1 mark)

ii. Who has a Comparative advantage in each of the goods? Calculate the opportunity costs to explain your answer. (3 marks)

iii. If a trade occurs based on Comparative Advantage who will sell what? (1 mark)

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