Write the limits of the terms of trade specifically when is

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Reference no: EM13389106

Amount of Beef or Computers Produced by One Worker in a Day

Canada Japan

Beef 8 5

Computers 3 4

2. Which country has the absolute advantage in beef production?

3. Which country has the absolute advantage in computer production?

4. Which country has the comparative advantage in beef production?

5. Which country has the comparative advantage in computer production?

6. What are the limits of the terms of trade? Specifically, when is Canada willing to trade with Japan, and when is Japan willing to trade with Canada?

Reference no: EM13389106

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