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Consider the following production data for Italy and France: Italy France Labour force 50 180 Bottles of wine per worker 80 25 Wheels of cheese
Consider the following production data for Italy and France: Italy France Labour force 50 180 Bottles of wine per worker 80 25 Wheels of cheese per worker 8 2 Assume Autarky and that each country spends half of their income in each good. Please consider wine to be the numeraire good. Choose the best alternative based on the information from the previous Table Under Autarky, the price of cheese in France is 20 Under Autarky, the price of wine in Italy is 10 Under Autarky, the price of cheese in France is 10 Under Autarky, the price of cheese in Italy is 10 Under Autarky, the price of wine in France is 100
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Price theory and applications
Authors: Steven E landsburg
8th edition
538746459, 1133008321, 780538746458, 9781133008323, 978-0538746458
