Question: During the eighteenth century, the American colonies had much more land per farmer than did Europe. As a result, the price of labor in the

During the eighteenth century, the American colonies had much more land per farmer than did Europe. As a result, the price of labor in the colonies was much higher relative to the price of land than it was in Europe. Assume that Europe and the colonies had access to the same technology for producing food. Use an isoquant-isocost line graph to illustrate why the combination of land and labor used in producing food in the colonies would have been different from the combination used to produce food in Europe.

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