Draw a table showing Autarky price ratios for each country and a diagram for the consumption and production possibilities frontier in Autarky when Canada produces 2000 units of corn with all its labour resources or 8000 units of wool with all its labour resources, consumes 1000 of corn and 4000 of wheat. Brazil has 12000 units of labour available. It takes 6 hours to produce a unit of corn and 3 hours to produce a unit of wool. Brazil consumes 1200 corn and 1600 wool.
Draw a table showing Autarky price ratios for each country and a diagram for the consumption and production possibilities frontier in Autarky when Canada produces 2000 units of corn with all its labour resources or 8000 units of wool with all its labour resources, consumes 1000 of corn and 4000 of wheat. Brazil has 12000 units of labour available. It takes 6 hours to produce a unit of corn and 3 hours to produce a unit of wool. Brazil consumes 1200 corn and 1600 wool.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Draw a table showing Autarky
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