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Consider a Ricardian model in which a country produces cheese and wine. The autarky prices of wine and cheese are Pw = $5, Pc =
Consider a Ricardian model in which a country produces cheese and wine. The autarky prices of wine and cheese are Pw = $5, Pc = $8. Unit labor requirements in the wine and cheese industries are 8 hours per gallon and 4 hours per pound, respectively. Calculate the autarky real wage of wine workers in terms of cheese. 0.25 pounds per hour 0.125 pounds per hour 0.5 pounds per hour 0.625 pounds per hour 0.3 pounds per hour
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