Assume that Spain can produce a commodity using fewer resources than any other country.Spain will export this commodity even if other countries have a lower opportunity cost of producing it.
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Q17: If Panama has a high opportunity cost
Q18: Suppose that a nation has an absolute
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Q21: Figure 16-2
Number of workers needed to produce
Q22: Figure 16-3
Quantities of goods that can be
Q23: Consider the following table on output producible
Q24: For each watch Switzerland produces,it gives up
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