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1. Assume that each laborer in Australia can make 2 bikes or 3 computers. Suppose that Australia has 4 workers. a. Graph the Production Possibility

1. Assume that each laborer in Australia can make 2 bikes or 3 computers. Suppose that Australia has 4 workers.

a. Graph the Production Possibility Frontier (PPF) for Australia.

b. Determine the no-trade relative price of bikes in Australia.

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