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Can't figure this question out? Please show me the answer and process. China can produce either 60 units of oil or 90 units of cell
Can't figure this question out? Please show me the answer and process. China can produce either 60 units of oil or 90 units of cell phones per labor hour. Canada can produce either 100 units of oil or 65 units of cellphones per labor hour. Suppose Canada follows its comparative advantage in deciding what to produce and trade with china at a trade price of 1.38 units of cellphones per unit of oil. For every 2600 units of goods that Canada produces and trades with china, what are the gains from trade in terms of other goods? Do not round calculations
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