=+b. In autarky, the United States can produce 200,000 bicycles if no corn is produced, and China

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=+b. In autarky, the United States can produce 200,000 bicycles if no corn is produced, and China can produce 3,000 tons of com if no bicycles are produced. Draw each country’s production possibility frontier assuming constant opportunity cost, with tons of corn on the vertical axis and bicycles on the horizontal axis.

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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