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Economics

Question: Answer the following questions using the information given by the accompanying table:

a. Complete the table for this problem in the same manner as given Table.

b. Which country has an absolute advantage in the production of bicycles? Which country has an absolute advantage in the production of snowboards?

c. What is the opportunity cost of bicycles in terms of snowboards at Home? What is the opportunity cost of bicycles in terms of snowboards in Foreign?

d. Which product will Home export, and which product does Foreign export? Briefly explain why.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92287438

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