The table below provides hypothetical data on the productivity of single unit of resource in producing steel and VCRs in South Korea and Japan.
- Referring to the table below, what is the opportunity cost of one VCR in Japan?
- Referring to the table below, what is the opportunity cost of one VCR in South Korea?
- Refer to the table below. According to the principle of absolute advantage, what should Japan trade?
- Refer to the table below. According to the principle of comparative advantage, what should South Korea export?
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