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Consider two economies, Beta and Zeta. Each farmer in Beta can grow 1.000 pounds of apples in a year or 500 pounds of oranges. Each farmer in Zeta can grow 400 pounds of apples or 1,200 pounds of oranges in a year.
O Refer to the scenario above. Which of the following statements is true? O Zeta has an absolute advantage in producing both oranges and apples. O Beta has a comparative advantage in producing both oranges and apples. O Beța and Zeta will suffer losses if they engage in foreign trade. O Zeta should specialize in producing oranges and Beta should specialize in producing apples.
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