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Business, 23.09.2020 16:01 siri5645

Suppose that companies in the United States can produce a car with 200 labor hours and a ton of rice with 20 labor hours. In China it takes 250 labor hours to make a car and 50 labor hours to grow a ton of ricewhat is the opportunity cost of producing rice in each country stated in terms of rice. 1. What is the opportunity cost of producing rice in each count, stated in terms of cars?2. What is the opportunity cost of cars, stated in terms of rice?3. Which country has a comparative advantage in cars?4. Which in rice?

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Suppose that companies in the United States can produce a car with 200 labor hours and a ton of rice...
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