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If the Opportunity Cost of Corn to Wheat Is 3:1

question 62

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If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only France would benefit from trade if the actual terms of trade between corn and wheat were 7:1.


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Pertaining to evolution, the process through which species undergo changes over time due to genetic variations and natural selection.

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