Use the information in Exercise 5 plus the following additional data to graph As trade triangle: world
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Use the information in Exercise 5 plus the following additional data to graph A’s trade triangle: world relative price = 3; A’s imports = 3,000; A’s exports = ?
data from exercises 5
Suppose that there are 40,000 hours of labor available in country A. Ten hours of labor are required to produce 1 unit of S, while eight hours are required to produce 1 unit of T. Find the shape and dimensions of A’s PPF.
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