Output per hour Production and Production Estonia Morocco O 120 O 70 O O of work 90 Swords 5 2 50 Belts 3 2 Estonia and Morocco can produce both swords and belts. Each country has a total of 40 available labor hours for the production of swords and belts. Table 7-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade. Consumption without Trade Swords 100 60 Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia consume? Belts 40 60 with Trade Swords 200 0 Belts 0 120

Output per hour Production and Production Estonia Morocco O 120 O 70 O O of work 90 Swords 5 2 50 Belts 3 2 Estonia and Morocco can produce both swords and belts. Each country has a total of 40 available labor hours for the production of swords and belts. Table 7-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade. Consumption without Trade Swords 100 60 Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia consume? Belts 40 60 with Trade Swords 200 0 Belts 0 120

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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