This is the final part to the question I previously posted Suppose there are two countries Peru and Japan thatproduce Food and Fuel. Peru can produce 7,523 units ofFood or 17,853 units of Fuel using a labour force of 8000.Japan can produce 5,733 units of Food or 24,156 units ofFuel using a labour force of 5000. *(g) If the terms of trade is 2 to 1 in favour of the countrywith the comparative advantage in food. Determine thecombination of the two goods that each country willconsume after trade if the country with the comparativeadvantage in fuel imports 4000 units of food. Label thispoint B and B* respectively.*h) Who gains from trade? Who loses? What is the impactif any on the world?*(i) What should the terms of trade be to make tradebeneficial for BOTH Japan and Peru? Explain.

Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523 units of Food or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5000.

Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523 units of Food or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5000.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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This is the final part to the question I previously posted

Suppose there are two countries Peru and Japan that
produce Food and Fuel. Peru can produce 7,523 units of
Food or 17,853 units of Fuel using a labour force of 8000.
Japan can produce 5,733 units of Food or 24,156 units of
Fuel using a labour force of 5000.

*(g) If the terms of trade is 2 to 1 in favour of the country
with the comparative advantage in food. Determine the
combination of the two goods that each country will
consume after trade if the country with the comparative
advantage in fuel imports 4000 units of food. Label this
point B and B* respectively.
*h) Who gains from trade? Who loses? What is the impact
if any on the world?
*(i) What should the terms of trade be to make trade
beneficial for BOTH Japan and Peru? Explain.

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