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Assume the US can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, Toyotas can be produced at 1,000,000...

Assume the US can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, Toyotas can be produced at 1,000,000 yen and Chevrolets at 500,000 yen. a. In terms of Chevrolets what is the opportunity cost of producing Toyotas in each country? b. Who has the comparative advantage in producing Chevrolets? c. Based on Comparative Advantage, which country should produce the Chevrolets?

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