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Nation 1 Nation 2 X (units/hr) 8 3 Y (units/hr) 4 2 Available Labor Supply (in hrs) 100 100 Derive the production possibility frontier of
Nation 1 Nation 2 X (units/hr) 8 3 Y (units/hr) 4 2 Available Labor Supply (in hrs) 100 100 Derive the production possibility frontier of Nation 1 and Nation 2 of the form: Y=a-bX. Show full solutions. [10 points].Identify and interpret the opportunity costs values for Nation 1 and Nation 2. Limit answer to 6 sentences. [10 points] Find the Autarky Equilibrium quantities of production/consumption for Nation 2. Show full solutions. [10 points]
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