Situation: Brazil and Chile can produce cloth and wheat. In Chile, the labor requirement for a yard
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Situation: Brazil and Chile can produce cloth and wheat. In Chile, the labor requirement for a yard of cloth is 6 hours while the requirement for a bushel of wheat is 9 hours. In Brazil, the requirement for a yard of cloth is 6 hours while that for a bushel of wheat is 10 hours.
Question: Is it possible for the wheat-exporting country to charge 12 bushels/yard for its wheat? Explain briefly.
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