The discovery of a huge oil field could make Brazil a large exporter of gasoline. Until two
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The discovery of a huge oil field could make Brazil a large exporter of gasoline. Until two years ago Brazil imported oil; then it became self-sufficient in oil. With this discovery, Brazil will become a major exporter of oil.
Describe Brazil’s comparative advantage in producing oil, and explain why its comparative advantage has changed.
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Before 2008 Brazil did not have a comparative advantage in producing oil Its cost of ...View the full answer
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