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Two countries (Latvia and Norway) produce two goods (steel and grain) according to the following table: Steel (millions) Grain (millions) Latvia 10 Norway 30 150

Two countries (Latvia and Norway) produce two goods (steel and grain) according to the following table: Steel (millions) Grain (millions) Latvia 10 Norway 30 150 Based on this table, we can say that has a comparative advantage in Steel, and has a comparative advantage in Grain. Furthermore, has an absolute advantage in Grain, and has an absolute advantage in Steel

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