27. What are the implied relative price of cloth in international trade?     a) 1/3 yard/bottle     b) 3 yards/bottle     c) 1/2 yard/bottle     d) -1/2 yard/bottle     e) 2 yards/bottle     f) 1/3 bottle/yard     g) 2 bottles/yard     h) -3 bottles/yard     i) 2/3 bottles/yard

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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27. What are the implied relative price of cloth in international trade?

   

a) 1/3 yard/bottle

   

b) 3 yards/bottle

   

c) 1/2 yard/bottle

   

d) -1/2 yard/bottle

   

e) 2 yards/bottle

   

f) 1/3 bottle/yard

   

g) 2 bottles/yard

   

h) -3 bottles/yard

   

i) 2/3 bottles/yard

Portugal
England
90
90
80
80
70
70
60
60
CPF
50
50
40
40
30
30
CPF
PPF
20
PPF
20
10
10
0 10 20 30 40 50 60
0 10 20 30 40 50 60
cloth
cloth
wine
wine
Transcribed Image Text:Portugal England 90 90 80 80 70 70 60 60 CPF 50 50 40 40 30 30 CPF PPF 20 PPF 20 10 10 0 10 20 30 40 50 60 0 10 20 30 40 50 60 cloth cloth wine wine
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