Describe Brazils comparative advantage in producing oil and explain why its comparative advantage has changed. A huge
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A huge underwater oil field discovered late last year has the potential to transform Brazil into a sizable exporter. Fifty years ago, Petrobras was formed as a trading company to import oil to support Brazil’s growing economy. Two years ago, Brazil reached its long-sought goal of energy self-sufficiency.
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Until recently Brazil did not have a comparative advantage in producing oil ...View the full answer
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