Q65If Canada can produce both cannabis and soybeans more efficiently, that is, with smaller absolute amounts of resources, than Brazil, then:Multiple Choice Brazil should impose tariffs. then there is no possible basis for mutually advantageous specialization and trade between Canada and Brazil. we can conclude that Canada is an industrially advanced economy and Brazil is a developing economy. it will necessarily be advantageous for Brazil to import both cannabis and soybeans from Canada. mutually advantageous specialization and trade between Canada and Brazil may still be possible.

Cannabis is allowed in Canada for both recreational and therapeutic use. Medicinal cannabis use was…

Answered: If Canada can produce both cannabis and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q65

If Canada can produce both cannabis and soybeans more efficiently, that is, with smaller absolute amounts of resources, than Brazil, then:

Multiple Choice

Brazil should impose tariffs.
then there is no possible basis for mutually advantageous specialization and trade between Canada and Brazil.
we can conclude that Canada is an industrially advanced economy and Brazil is a developing economy.
it will necessarily be advantageous for Brazil to import both cannabis and soybeans from Canada.
mutually advantageous specialization and trade between Canada and Brazil may still be possible.

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