The US, Mexico, and Canada all produce steel and corn. The table below shows the total production for each good if the c

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The Us Mexico And Canada All Produce Steel And Corn The Table Below Shows The Total Production For Each Good If The C 1 (182.42 KiB) Viewed 9 times

The US, Mexico, and Canada all produce steel and corn. The table below shows the total production for each good if the country specialized in that good. The units for the opportunity cost of producing corn will be ◆ Fill in the opportunity cost of producing corn (just the value, no units) for each country in the table below. (Include two decimal places.) Country Steel US Mexico Corn 1000 tons 1000 bushels 100 tons 500 bushels OC of corn Canada 700 tons 100 bushels The US has the absolute advantage in producing → has a comparative advantage in producing corn. has a comparative advantage in producing steel. Producing 1000 bushels of corn and 900 tons of steel is bushels of corn and ◆ Suppose the total production is 1200 bushels of corn and 1000 tons of steel. Then, the US is producing bushels of corn and tons of steel, Mexico is producing • Canada is producing bushels of corn and tons of steel, and tons of steel.