The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative B and for the United States is alternative U. China Production Possibilities Product A E Apparel Chemicals (tons) 120,000 96,000 72,000 48,000 24,000 24 48 72 96 120 U.S. Production Possibilities Product R V W
The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative B and for the United States is alternative U. China Production Possibilities Product A E Apparel Chemicals (tons) 120,000 96,000 72,000 48,000 24,000 24 48 72 96 120 U.S. Production Possibilities Product R V W
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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