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The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. a. Plot the production possibilities data
The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. a. Plot the production possibilities data for each of the two countries separately. Show the trading possibilities lines for each nation if the actual terms of trade are 1 plum for 2 apples. Instructions: (1) Use the tools provided, 'PPC NZ' and 'PPC SP', (plot 4 points each) to draw the PPC curves. (2) Use the tool provided, 'TOT,' in each diagram (plot 4 points each) to draw the trading possibilities lines for each nation. To earn full credit, you must correctly plot all points for each line. New Zealand (i)
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