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1400 1200 1000 800 600 400 200 OCA 0 OCA 200 400 There are two countries in the world: Mickey and Mini, which produce and consume Candy and Flower. On the diagram above, the offer curve of Mickey is shown as OCA and the offer curve of Mini is shown as OCB, where a quantity of Flower traded is measured along the horizontal axis and a quantity of Candy trade is measured along the vertical axis. The equilibrium relative price of Flower (PFlower/PCandy) is_ (Answer up to the second decimal place: e.g. 1.23) 600 800 1000 1200 1400 Flower

1400 1200 1000 800 600 400 200 OCA 0 OCA 200 400 There are two countries in the world: Mickey and Mini, which produce and consume Candy and Flower. On the diagram above, the offer curve of Mickey is shown as OCA and the offer curve of Mini is shown as OCB, where a quantity of Flower traded is measured along the horizontal axis and a quantity of Candy trade is measured along the vertical axis. The equilibrium relative price of Flower (PFlower/PCandy) is_ (Answer up to the second decimal place: e.g. 1.23) 600 800 1000 1200 1400 Flower

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1400 1200 1000 800 600 400 200 OC 0 OCB 200 400 600 800 1000 1200 1400 Flower There are two countries in the world: Mickey and Mini, which produce and consume Candy and Flower. On the diagram above, the offer curve of Mickey is shown as OCA and the offer curve of Mini is shown as OCB, where a quantity of Flower traded is measured along the horizontal axis and a quantity of Candy trade is measured along the vertical axis. The equilibrium relative price of Flower (PFlower/PCandy) is (Answer up to the second decimal place: e.g. 1.23)
Transcribed Image Text:1400 1200 1000 800 600 400 200 OC 0 OCB 200 400 600 800 1000 1200 1400 Flower There are two countries in the world: Mickey and Mini, which produce and consume Candy and Flower. On the diagram above, the offer curve of Mickey is shown as OCA and the offer curve of Mini is shown as OCB, where a quantity of Flower traded is measured along the horizontal axis and a quantity of Candy trade is measured along the vertical axis. The equilibrium relative price of Flower (PFlower/PCandy) is (Answer up to the second decimal place: e.g. 1.23)
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