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Consider two countries, the Portugal and Spain, that each produce only two goods, ham and cod fish. Each country in endowed with a specific amount
Consider two countries, the Portugal and Spain, that each produce only two goods, ham and cod fish. Each country in endowed with a specific amount of labor and has a unit labor requirement for producing each product. The figure below depicts each country's PPF. PPFp is Portugal's PPF, and PPF, is Spain's PPF. 350 Quantity of Cod Fish (in pounds per week) 300 250 PPF. 200 150 100 50 PPFE....i. 50 100 150 200 250 300 350 Quantity of Ham (in pounds per week) Part (i): Suppose that Portugal has 250 available units of labor each week. What is Portugal's unit labor requirement for producing units of ham? Part (ii): Suppose that Spain's unit labor requirement for producing cod fish is 0.40. How many units of labor does Spain have available each week
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