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Question 10 (1 point) Louis can produce 5 potatoes in 15 minutes or 3 carrots in 10 minutes. Andy can produce 9 carrots in
Question 10 (1 point) Louis can produce 5 potatoes in 15 minutes or 3 carrots in 10 minutes. Andy can produce 9 carrots in 30 minutes or 10 potatoes in 20 minutes. Would Andy and Louis be willing to trade at a price of 3/4 of a carrot for 1 potato? Yes, they will trade. Louis will specialise in producing carrots, while Andy will specialise in producing potatoes. No, they will not trade. Louis will refuse to sell potatoes for carrots at this price. O No, they will not trade. Louis will refuse to sell carrots for potatoes at this price. Yes, they will trade. Louis will specialise in producing potatoes, while Andy will specialise in producing carrots.
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