Question
can produce either 2 containers of toys or 7 cases of wine.Thus, a production unit in China is five times as efficient compared to France
can produce either 2 containers of toys or 7 cases of wine.Thus, a production unit in China is five times as efficient compared to France when producingtoys, but equally efficient when producing wine. Assume at first that no trade takes place. China allocates 800 production units to building toys and 200 production units to producing wine. France allocates 200 production units to building toys and 800 production units to producing wine.
What is the production and consumption of China and France withouttrade?
a. What is the production and consumption of China and France withouttrade?
Calculate the production and consumption of China and France without tradebelow:(Round to the nearestinteger.)
Production if there is no trade
Toys
CHINA
Allocated production units to
Produces and consumes
FRANCE
Allocated production units to
Produces and consumes
Total production and consumption across both countries
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