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We are given the following labour per output ratios for the US and Mexico: Chemicals Radios US 1 Mexico 10 This should be read as;
We are given the following labour per output ratios for the US and Mexico: Chemicals Radios US 1 Mexico 10 This should be read as; in order to produce 1 unit of the good, for example chemicals, we need 1 unit of labour in the US and 10 units of labour in Mexico a Identify and explain which country has comparative advantage in the production of each product. (3 marks) b. What is the relative price of chemicals in terms of radios in the US? In Mexico? Explain your
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