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Consider the no-trade input/output situation presented in the following table and graph for South and North Carolina. Assume that free trade is legal. Input/Output without

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Consider the no-trade input/output situation presented in the following table and graph for South and North Carolina. Assume that free trade is legal. Input/Output without Trade Country South North Carolina Carolina Total I. Total Potential Output (1bs. or yards; 000, 000s) Guns 500 250 750 Butter 1,000 750 1, 750 II. Consumption (lbs. or yards; 000, 000s) Guns 250 200 450 Butter 500 150 650 Which state is better at making guns? Multiple Choice O North Carolina South Carolina The states are equally good at making guns. Mc Prey 20 of 31 # Next >

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