Suppose that corn production requires only

Reference no: EM1339976

Media attacks on WTO

1. Why does the media attacks world trade?

2. Assume that corn production requires only land and can production requires only labor. The United States can produce either 70 kilograms of corn or 100 cans in an hour. Mexico can produce either 60 kilograms of corn or 20 cans in an hour. Which of the following statement is TRUE?

a. The United States has more efficient resources for the production of cans than Mexico.

b. Mexico can produce more core than the United States.

c. Both countries jointly can produce 120 cans and 120 kilograms of corn.

d. Neither country is better endowed for producing cans.

Reference no: EM1339976

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