A worker in Australia can produce 20 units of food or 5 iPhones. A worker in Korea can produce 8 units of food or 4 iPhones. If these nations based their trade decisions on specialization and comparative advantage, then how many units of food and iPhones should each nation produce.?

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05-07-2024
Business

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A worker in Australia can produce 20 units of food or 5 iPhones. A worker in Korea can produce 8 units of food or 4 iPhones. If these nations based their trade decisions on specialization and comparative advantage, then how many units of food and iPhones should each nation produce.?

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