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PPF Australia and the United States Two graphs plot beef against corn for Australia and the United States, respectively. The vertical axes represent beef in
PPF Australia and the United States Two graphs plot beef against corn for Australia and the United States, respectively. The vertical axes represent beef in millions of pounds from 0 to 9 in increment of 1. The horizontal axes represent corn in millions bushels from 0 to 9 in increment of 1. For Australia, a negative sloping curve starts from (0, 8) and ends at (5, 0). For the United States, a negative sloping curve starts from (0, 9) and ends at (9, 0). The figures show what Australia and the United States can produce using the same quantity of labor. If Australia and the United States trade to have higher consumption, the United States should specialize in the production of _____, and Australia should specialize in the production of _____. Question 22 options: both corn and beef; neither corn nor beef neither corn nor beef; both corn and beef beef; corn corn; beef
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