Problem
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One Hand-Made Wool Sweater
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One Barrel of Beer
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Ireland
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16 hours
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4 hours
|
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Germany
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10 hours
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2 hours
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What is Ireland's opportunity cost of producing one hand-made wool sweater?
What is Germany's opportunity cost of producing one hand-made wool sweater?
What is Ireland's opportunity cost of producing one barrel of beer?
What is Germany's opportunity cost of producing one barrel of beer?
Ireland has a comparative advantage in?
Germany has a comparative advantage in?
If the two countries specialize and trade, who should export barrels of beer?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.