42. In Canada, one labour hour can produce 6 bagels or 24 chairs In the United States, onecomparative advantage in deciding what to produce and trade with Canada at a trade priceabour hour can produce 14 bagels or 19 chairs. Suppose the United Stateates, onecome chairs per bagel. For every, 36 units of the goods the United States produces antrade, what is the gains from trade in terms of the other goods?Answer:Units.IDO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER ENTERYOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FORTHOUSANDS).

Production possibilities of Canada United States Bagels 6 14 Chairs 24 19 Opportunity cost…

42. In Canada, one labour hour can produce 6 bagels or 24 chairs In the United States, one comparative advantage in deciding what to produce and trade with Canada at a trade price labour hour can produce 14 bagels or 19 chairs. Suppose the United States follows its of 3.8 chairs per bagel. For every, 36 units of the goods the United States producerice trade, what is the gains from trade in terms of the other goods? Units. Answer: 0O NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER, ENTER VOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS).

42. In Canada, one labour hour can produce 6 bagels or 24 chairs In the United States, one comparative advantage in deciding what to produce and trade with Canada at a trade price labour hour can produce 14 bagels or 19 chairs. Suppose the United States follows its of 3.8 chairs per bagel. For every, 36 units of the goods the United States producerice trade, what is the gains from trade in terms of the other goods? Units. Answer: 0O NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER, ENTER VOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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