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If an economy with full employment operating on its production possibilities curve can increase its output of steel from 0 to 30 tonnes by forgoing
If an economy with full employment operating on its production possibilities curve can increase its output of steel from 0 to 30 tonnes by forgoing an output of 30 tonnes of soybeans output, then the opportunity-cost ratio (domestic exchange ratio) for the two products is Blank______. Multiple choice question. 2 tonnes of steel for 1 tonne of soybeans or 2St = 1Soy 1 tonne of steel for 1/2 tonne of soybeans or 2St = 1Soy 1 tonne of steel for 1 tonne of soybeans or 1St = 1Soy 1 tonne of steel for 2 tonne of soybeans or 1St = 2Soy
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