Business, 10.09.2019 19:10 CameronVand21
Suppose that portugal and denmark both produce fish and olives. portugal's opportunity cost of producing a crate of olives is 4 pounds of fish while denmark's opportunity cost of producing a crate of olives is 10 pounds of fish. by comparing the opportunity cost of producing olives in the two countries, you can tell that portugal _ has a comparative advantage in the production of olives and denmark _ has a comparative advantage in the production of fish. suppose that portugal and denmark consider trading olives and fish with each other. portugal can gain from specialization and trade as long as it receives more than 4 pounds _ of fish for each crate of olives it exports to denmark. similarly, denmark can gain from trade as long as it receives more than 1 crate '_ of olives for each pound of fish it exports to portugal. based on your answer to the last question, which of the following prices of trade (that is, price of olives in terms of fish) would allow both denmark and portugal to gain from trade? check all that apply. 6 pounds of fish per crate of olives 2 pounds of fish per crate of olives 8 pounds of fish per crate of olives 18 pounds of fish per crate of olives
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Suppose that portugal and denmark both produce fish and olives. portugal's opportunity cost of produ...
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