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Author Question: Ireland and Japan are assumed to produce only wool and steel, to have full employment and complete ... (Read 54 times)

shivanipalawai@gmail.com

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on: Oct 12, 2022

Ireland and Japan are assumed to produce only wool and steel, to have full employment and complete mobility of resources between industries. Their production possibilities boundaries before trade are drawn in solid lines. It is assumed that the two countries have the same amount of resources. Their consumption possibilities after trade are shown by the dotted lines. The outputs of wool and steel are given in physical units.



FIGURE 19-1

Refer to Figure 19-1. If Ireland and Japan were each to specialize in the good for which they have a comparative advantage, Ireland would produce ________ and Japan would produce ________.


◦ 3 units of wool and 4 units of steel; 3 units of wool and 8 units of steel
◦ 3 units of wool and 6 units of steel; 4 units of wool and 8 units of steel
◦ 4 units of wool and 0 units of steel; 0 units of wool and 8 units of steel
◦ 3 units of wool and 0 units of steel; 0 units of wool and 8 units of steel
◦ 0 units of wool and 6 units of steel; 4 units of wool and 0 units of steel
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by shivanipalawai@gmail.com on Oct 12, 2022

MistyHubbard

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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shivanipalawai@gmail.com

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

FergA

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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