Business, 15.10.2019 04:10, veroushkarose7326

Country a has 1,500 units of labor and can produce two goods, manufactures and food. a’s producers take 5 units of labor to produce one unit of manufactures and 6 units to produce one unit of food. country b has 1800 units of labor and takes 3 units of labor to produce one unit of manufactures and 9 units to produce one unit of food. draw the production possibility frontiers for the two countries. draw the world relative supply curve for manufactures. would trade take place in between a and b in adam smith’s world? what good would a export?

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Country a has 1,500 units of labor and can produce two goods, manufactures and food. a’s producers t...