Business, 13.02.2020 22:19, strevino9178

Suppose the UK and Norway both produce oil and shoes, which are sold for the same prices in both countries. UK's opportunity cost of producing one unit of oil is 2 pairs of shoes and Norway's opportunity cost of producing one unit of oil is 1/2 pair of shoes. If both countries decide to specialize and then trade between themselves, which country should produce oil

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Suppose the UK and Norway both produce oil and shoes, which are sold for the same prices in both cou...