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VII. Assume that the data in Case 8 in Table 1 refer to millions of bushels of wheat and millions of yards of cloth. a.
VII. Assume that the data in Case 8 in Table 1 refer to millions of bushels of wheat and millions of yards of cloth. a. Plot on the graph the production frontiers of the United States and the United Kingdomc Label on vertical access the commodity cloth and on the horizontal access the wheat commodity. b. What is the relative price of wheat (Pw/Pc) in the United States and in the United Kingdom
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