Draw the production possibility frontiers for the 2, Ask an Expert

Economics

Q. Nation A has 1500 units of labor also can produce 2 goods, manufactures also food.

A's producers take 5 units of labor to produce one unit of manufactures also 6 units to produce one unit of food. Nation B has 1800 units of labor also takes 3 units of labor to produce one unit of manufactures also 9 units to produce one unit of food.

Draw the production possibility frontiers for the 2 countries. Draw the world relative supply curve for manufactures. Would trade take place in among A also B in Adam Smith's world? Illustrate what good would A export?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9162712

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