A. South Korea should specialize in producing TV sets because it has a lower opportunity cost. B. South Korea should specialize in producing cars because it has a lower opportunity cost. C. Japan and South Korea should both specialize in producing cars because they both have a lower opportunity cost. D. Japan should specialize in producing TV sets because it has a lower opportunity cost.

A. South Korea should specialize in producing TV sets because it has a lower opportunity cost. B. South Korea should specialize in producing cars because it has a lower opportunity cost. C. Japan and South Korea should both specialize in producing cars because they both have a lower opportunity cost. D. Japan should specialize in producing TV sets because it has a lower opportunity cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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