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What is the fair trading price? Give your answer to 2 decimal places. (Hint: equate one individual's total surplus to the total surplus of the
What is the fair trading price? Give your answer to 2 decimal places. (Hint: equate one individual's total surplus to the total surplus of the other individual.)
If 100% of time is spent on the production of one crop | Self sufficiency | |||
Potatoes (kg) | Oats (kg) | Potatoes (kg) | Oats (kg) | |
Freya | 1000 | 400 | 300 | 250 |
Calum | 800 | 1000 | 350 | 400 |
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