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The table below describes production possibilities for Mexico and Nigeria. Each number in the table shows the number of workers needed to produce one unit
The table below describes production possibilities for Mexico and Nigeria. Each number in the table shows the number of workers needed to produce one unit of the product. Shoes Glasses Country Mexico 10 12 Nigeria 18 5 1. What is the opportunity cost of producing Shoes in Mexico? Glasses 2. What is the opportunity cost of producing Glasses in Mexico? Shoes 3. What is the opportunity cost of producing Shoes in Nigeria? Glasses 4. What is the opportunity cost of producing Glasses in Nigeria? Shoes 5. Which country has an absolute advantage in producing Shoes? 6. Which country has an absolute advantage in producing Glasses? 7. Which country has a comparative advantage in producing Glasses? 8. Which country has a comparative advantage in producing Shoes? 9. Which country should be specializing in the production of Glasses? 10. Which country should be specializing in the production of Shoes? 11. Which country should be exporting Shoes? 12. Which country should be exporting Glasses
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