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What is the opportunity cost of bread and steel

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Assume that both the U.S. and Canada produce bread and steel. For each hour? worked, a U.S. worker can produce 4 loaves of? bread, or .4 tons of steel. Canadian workers can produce 2 loaves of? bread, or .8 tons of steel per hour.

What is the opportunity cost of bread and steel in each country? In which good does each country have a comparative advantage? What is the range for mutually beneficial trade in steel?

Reference no: EM133066171

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