Has the country specialized in your suggested industries

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Reference no: EM1351307

Suppose that your University charges you separately for tuition and for room and board (10 marks).

a. What is a cost of attending University that is not an opportunity cost?

b. What is an explicit opportunity cost of attending University?

c. What is an implicit opportunity cost of attending University?

According to comparative advantage, in which industries would you recommend the country to specialize? Has the country specialized in your suggested industries? Are there opportunities for industry specialization that you see unfilled?

Reference no: EM1351307

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