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There are 13000 units of productive capacity in the Eldorado. Let Y = 0 + 0.07 X be the cotton production function. Let Y =
There are 13000 units of productive capacity in the Eldorado.
Let Y = 0 + 0.07 X be the cotton production function.
Let Y = 0 + 0.35 X be the iron production function.
There are 10000 units of productive capacity in the Noplacia.
Let Y = 0 + 0.05 X be the cotton production function.
Let Y = 0 + 0.026 X be the iron production function.
The two countries will engage in international trade, if the international terms of trade are ________ tons of cotton per ton of iron
a. | 3.5
| b. | 2.5
| c. | 2.8
| d. | 1.8
| e. | 3.8
|
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