Question
North Korea and South Korea produce only two products, televisions and kimchi. In North Korea it takes 72 labor hours to produce a television, and
North Korea and South Korea produce only two products, televisions and kimchi. In North Korea it takes 72 labor hours to produce a television, and 24 labor hours to produce a ton of kimchi. In South Korea it takes 60 labor hours to produce a television, and 15 labor hours to produce a ton of kimchi. Under an optimal free-trade agreement:
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The World Economy Geography, Business, Development
Authors: Frederick P. Stutz, Barney Warf
6th edition
321722508, 321722507, 978-0321722508
