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Japan and China produce two goods: onions and garlic. They are deciding whether they should engage in trade. Given their agricultural resources, each can produce
Japan and China produce two goods: onions and garlic. They are deciding whether they should engage in trade. Given their agricultural resources, each can produce the following: Japan: 1200 onions OR 1400 garlic. China: 1600 onions OR 3000 garlic. has the absolute advantage in onions and has the absolute advantage in garlic
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
