Business, 18.01.2021 14:00 dsgSFkbed

Brazil can produce 1 unit of sugarcane with 1 unit of labor and 1 iPod with 8 units of labor, and China can produce 1 unit of sugarcane with 2 units of labor and 1 iPod with 4 units of labor. Which of the following is TRUE? a. Before trade, China's opportunity cost of one unit of sugar cane is two iPods.
b. China has an absolute advantage in sugar cane production.
c. Both parties benefit if they specialize and trade at terms of one unit of sugar cane for two iPods.
d. With trade, Brazil should specialize in sugar cane and China in iPods.

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Brazil can produce 1 unit of sugarcane with 1 unit of labor and 1 iPod with 8 units of labor, and Ch...

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