Produce any combination of peaches

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Lorraine and Jake can produce any combination of peaches and nectarines described by the production possibilities curve above using the same amount of resources.

-Who has the absolute advantage in the production of each product? Explain.

-Who has the comparative advantage in the production of each product? Explain.

-Who will specialize in the production of each product? Explain using the concept of opportunity cost.

Reference no: EM132512248

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