Labor to produce one unit of manufactures

Assignment Help Business Economics

Reference no: EM131172318

Country A has 3500 units of labor and can produce two goods, manufactures and food. A’s producers take 7 units of labor to produce one unit of manufactures and 2 units to produce one food unit. Country B has 4500 units of labor and takes 5 units of labor to produce one unit of manufactures and 10 units to produce one unit of food. At what price of food in terms of manufactures would A and B respectively supply food? Would trade take place in between A and B in Adam Smith’s world? How many food units could B supply?

Reference no: EM131172318

Questions Cloud

Information and unknowns organized and properly labeled : The Acme Candy Company is preparing to offer a new product called the Minty Dark Chocolate Bite Bar. The material costs per unit of the new candy bar are $0.10 for chocolate, $0.02 for sugar, and $ 0.03 for mint flavoring. Create a table of given inf..

Recreational use of marijuana has been declared legal : Recreational use of marijuana has been declared legal in Oregon. How might this information affect the market for marijuana in Oregon?

Decrease in equilibrium quantity of the products : Increase in the equilibrium price and a decrease in equilibrium quantity of the products made with eggs,consider the effect of that price change on the market for items such as mayonnaise, salad dressing and cake mixes, for which eggs are a key ingre..

About the urban legend : Jerry went to a nightclub last weekend. He met a good-looking woman and they hit it off. They spent the night in a motel. When he got up the next morning, the woman was gone. When he went to the bathroom, he saw a message scrawled on the mirror in li..

Labor to produce one unit of manufactures : Country A has 3500 units of labor and can produce two goods, manufactures and food. A’s producers take 7 units of labor to produce one unit of manufactures and 2 units to produce one food unit. Country B has 4500 units of labor and takes 5 units of l..

When is the phrase except for used in an audit report : What is the auditor's responsibility when there is a substantial going concern issue? Which of the following statements is omitted from nonpublic company audit reports? When is the phrase "except for" used in an audit report?

Use annual worth and the capital recovery formula : Savings of $5600 per year can be achieved through either a $14 000 machine (A) with a sevenyear service life and a $2000 salvage value, or a $25 000 machine (B) with a ten-year service life and a $10 000 salvage value. If the MARR is 9 percent, which..

Drivers of globalization in practice : Drivers of Globalization in Practice: Global Business Needs When considering a country to enter with respect to global trade, business leaders must determine if the particular country under consideration has a sufficiently acceptable environment in w..

Differences between firms and centrally planned economies : List three reasons that firms exist. Do any of the reasons imply that the command and control of centrally planned economies is the appropriate form? What are the similarities and differences between firms and centrally planned economies?

User Account

All Pages