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Hello, please help me with this I continue to get it incorrect. *Choices Are.txt - Notepad X File Edit Format View Help Choices are: Blank#1:
Hello, please help me with this I continue to get it incorrect.
*Choices Are.txt - Notepad X File Edit Format View Help Choices are: Blank#1: Denmark or Portugal Blank#2: Denmark or Portugal Blank#3: 1 pound or 1/4 pound or 1/9 pound or 4 pound or 9 pound. Blank#4: 1 bottle or 1/4 bottle or 1/9 bottle or 4 bottles or 9 bottles. Ln 6, Col 73 100% Windows (CRLF) UTF-8 Suppose that Portugal and Denmark both produce fish and wine. Portugal's opportunity cost of producing a bottle of wine is 4 pounds of fish while Denmark's opportunity cost of producing a bottle of wine is 9 pounds of fish. By comparing the opportunity cost of producing wine in the two countries, you can tell that has a comparative advantage in the production of wine and has a comparative advantage in the production of fish. Suppose that Portugal and Denmark consider trading wine and fish with each other. Portugal can gain from specialization and trade as long as it receives more than of fish for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than of wine for each pound of fish it exports to Portugal. Based on your answer to the last question, which of the following prices of trade (that is, price of wine in terms of fish) would allow both Denmark and Portugal to gain from trade? Check all that apply. 1 pound of fish per bottle of wine 13 pounds of fish per bottle of wine 3 pounds of fish per bottle of wine O 6 pounds of fish per bottle of wineStep by Step Solution
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