For each of the following cases below determine the, Ask an Expert

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For each of the following cases below determine the following:

(a) the relative price of S toT(Ps/PT) in each country before trade

(b) comparative advantage of each country

Labor hours required to produce S or T in country A and B:

Country A: S=6 T=2

Country B: S=15 B=12

2. Suppose that there are 20,000 hours of labor available in country A, and that 5 hours of labor are required to produce one unit of S, while 4 hours are required to produce one unit of T. Draw A's PPF and find its slope. What is the relative price of S to T (Ps/PT)?

3. Use the information in problem 2 plus the following additional data to graph A's trade triangle:

world relative price of S to T=2;

A’s imports of T=1000; Find A’s exports of S=?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91995211

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