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Thank you in advance! Will thumbs up answers Problem 1. I strongly suggest you read the worked examples in the lecture notes from Chapter 3
Thank you in advance! Will thumbs up answers
Problem 1. I strongly suggest you read the worked examples in the lecture notes from Chapter 3 before attempting this problem. In the spaces below write the last 6 digits of your student ID number below and cross out any zeros. Put the first four non zero numbers in the spaces below 1 (A) 4 (B) 1 (C) 8 (D) (Example: If your student number is 0678031 this line should be 6 (A) 7(B)8(C)3(D) Suppose there are two countries, Home and Foreign, that are capable of producing two goods, say Food and Manufactured Goods (called Manufactures below) The amount of labour in Home and Foreign is determined by multiplying the first and second non zero digit from your student ID number by 100 . That is L=100A=L=100xB= Where L is the Home country labour force and L is the Foreign country labour force (we will use a superscripted to denote the Foreign country. The amount of labour needed to produce a ton of each commodity is given in the table below. j) If Home's unit labour requirement in producing food doubles redo (d) and (e) (assume the Foreign Explanations and Calculations: Problem 1. I strongly suggest you read the worked examples in the lecture notes from Chapter 3 before attempting this problem. In the spaces below write the last 6 digits of your student ID number below and cross out any zeros. Put the first four non zero numbers in the spaces below 1 (A) 4 (B) 1 (C) 8 (D) (Example: If your student number is 0678031 this line should be 6 (A) 7(B)8(C)3(D) Suppose there are two countries, Home and Foreign, that are capable of producing two goods, say Food and Manufactured Goods (called Manufactures below) The amount of labour in Home and Foreign is determined by multiplying the first and second non zero digit from your student ID number by 100 . That is L=100A=L=100xB= Where L is the Home country labour force and L is the Foreign country labour force (we will use a superscripted to denote the Foreign country. The amount of labour needed to produce a ton of each commodity is given in the table below. j) If Home's unit labour requirement in producing food doubles redo (d) and (e) (assume the Foreign Explanations and CalculationsStep by Step Solution
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