In the figure below, AB is the production-possibility curve of Canada. I and I are two of the community indifference curves of Canada. With free trade, the international price ratio is 0.33 bushel of wheat/bale of cotton, and Canada will export: Wheat (bushels) P R 80 A 60 50 0 SIT eighty bushels of wheat. B twenty bushels of wheat. forty bales of cotton. 25 sixty bales of cotton. I₁ Canada 12 65 Co B C1 85 -S Cotton (bales)

In the figure below, AB is the production-possibility curve of Canada. I and I are two of the community indifference curves of Canada. With free trade, the international price ratio is 0.33 bushel of wheat/bale of cotton, and Canada will export: Wheat (bushels) P R 80 A 60 50 0 SIT eighty bushels of wheat. B twenty bushels of wheat. forty bales of cotton. 25 sixty bales of cotton. I₁ Canada 12 65 Co B C1 85 -S Cotton (bales)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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!NO NEED FOR EXPLANATIONS! Answer the questions 6,7,8... Thank you.
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