Business, 18.02.2020 20:22 deraldw0509

Suppose that Italy and Portugal both produce cheese and wine. Italy's opportunity cost of producing a bottle of wine is 2 pounds of cheese. That is, Italy forgoes the production of 2 pounds of cheese when it produces a bottle of wine. Portugal's opportunity cost of producing a bottle of wine is 1/2 pound of cheese. has a comparative advantage in the production of wine. A. Neither Italy or New Zealand. B. both Italy and New Zealand. C. Italy has. D. New Zealand

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Suppose that Italy and Portugal both produce cheese and wine. Italy's opportunity cost of producing...

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