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a. On the graph illustrate how Home's consumption point will change if the world price of a bushel of wheat increases from of a yard of cloth to 1 yard of cloth. Adjust the P line and U curve as needed. 100 90 80 P 50 288 Cloth, Q (yards) 40 30 PPF h 20 10 10 ° ° 20 20 16 40 60 80 100 120 Wheat, Q (bushels) w 140 160 180 200

a. On the graph illustrate how Home's consumption point will change if the world price of a bushel of wheat increases from of a yard of cloth to 1 yard of cloth. Adjust the P line and U curve as needed. 100 90 80 P 50 288 Cloth, Q (yards) 40 30 PPF h 20 10 10 ° ° 20 20 16 40 60 80 100 120 Wheat, Q (bushels) w 140 160 180 200

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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a. On the graph illustrate how Home's consumption point will change if the world price of a bushel of wheat increases from of a yard of cloth to 1 yard of cloth. Adjust the P, line and U, curve as needed. Cloth, (yards) 50 g 100 8888 60 90 P W 40 30 PPF 20 10 0 0 20 40 10 U h 60 80 100 120 140 160 180 200 Wheat, Q (bushels) พ
Transcribed Image Text:a. On the graph illustrate how Home's consumption point will change if the world price of a bushel of wheat increases from of a yard of cloth to 1 yard of cloth. Adjust the P, line and U, curve as needed. Cloth, (yards) 50 g 100 8888 60 90 P W 40 30 PPF 20 10 0 0 20 40 10 U h 60 80 100 120 140 160 180 200 Wheat, Q (bushels) พ
b. On the graph illustrate how Foreign's consumption point will change if the world price of a bushel of wheat increases from of a yard of cloth to 1 yard of cloth. Adjust the P, line and U, curve as needed. Cloth, Q (yards) 200 180 160 U f 140 120 400 80 PPF f 60 40 20 0 0 20 20 P W 40 60 80 100 120 140 160 180 200 Wheat, Q (bushels) W
Transcribed Image Text:b. On the graph illustrate how Foreign's consumption point will change if the world price of a bushel of wheat increases from of a yard of cloth to 1 yard of cloth. Adjust the P, line and U, curve as needed. Cloth, Q (yards) 200 180 160 U f 140 120 400 80 PPF f 60 40 20 0 0 20 20 P W 40 60 80 100 120 140 160 180 200 Wheat, Q (bushels) W
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