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Suppose that in one single day with all available resources the U.S. can produces 500 units of Steel or 250 units of Lumber and that
Suppose that in one single day with all available resources the U.S. can produces 500 units of Steel or 250 units of Lumber and that Mexico can produce 300 units of Steel or 100 units of Lumber.
1. Transform the given into a table showing two different combinations of Steel and Lumber for Mexico and for U.S. and determine the opportunity cost of steel in terms of lumber for each coountry
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