Is country x a labor abundant or capital abundant country

Reference no: EM133539363

Problem: Country X requires $7M worth of capital and 300 hours of labor to produce $1M worth of exported goods and $3M worth of capital and 500 hours of labor to produce $1M worth of imported goods. Based on this evidence, is Country X a labor abundant or capital abundant country? Briefly explain.

Reference no: EM133539363

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