With 1 unit of resources, China could produce either 2 tons of wheat or 4 tons of
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With 1 unit of resources, China could produce either 2 tons of wheat or 4 tons of rice, and Hungary could produce either 4 tons of wheat or 4 tons of rice. What is China’s opportunity cost of 1 ton of wheat and 1 ton of rice? What is Hungary’s opportunity cost of 1 ton of wheat and 1 ton of rice? Which country has the comparative advantage in wheat? Which country has the advantage in rice?
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Economics Theory And Practice
ISBN: 9781118949733
11th Edition
Authors: Patrick J. Welch, Gerry F. Welch
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