Solution-Average of the local prices in the two countries

Average of the local prices in the two countries

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Reference no: EM131502392

Suppose Brazil and China only trade with each other and they both produce the same two goods: grocery and fish. given its resources, Brazil can prdouce either 2 units of grocery per day or 1 unit of fish; China cna produce either 5 units of grocery or 4 units of fish.

What are the gains from trading a unit of fish if the international price of fish is equal to the average of the local prices in the two countries?

(show your work process)

Reference no: EM131502392

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Average of the local prices in the two countries : What are the gains from trading a unit of fish if the international price of fish is equal to the average of the local prices in the two countries?

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Average of the local prices in the two countries

Reference no: EM131502392

Reference no: EM131502392

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