Essay
Table 13.14 shows the output of kumquats per month.
-Suppose that the productivity per worker in the corn and barley industries of China and Russia are as follows:
a)What is the opportunity cost of 1 bushel of corn for China? For Russia?
b)What is the opportunity cost of 1 bushel of barley for China? For Russia?
c)Suppose there are 1000 workers in both China and Russia.Draw a production possibility curve for China and Russia
Correct Answer:
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a)China:2 bushels of barley.
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