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The following table depicts the labor productivity of Spain and Portugal for pairs of shoes and bottles of wine. -- Portugal - I-n [Select] V
The following table depicts the labor productivity of Spain and Portugal for pairs of shoes and bottles of wine. -- Portugal - I-n [Select] V has an absolute advantage in the production of Shoes. Spain's opportunity cost for a pair of shoes is l 59'6\" l V Portugal's opportunity cost for a pair of shoes is l 56'6\" l V [Select] V has a comparative advantage in shoes. The lower bound of the trade price of shoes is l SeleCt l V The upper bound of the trade price of shoes is l SEIECt l V
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