Imagine an economy with two types of goods

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Imagine an economy with two types of goods; those that are tradable T (goods that can cross borders) and those that are not tradable NT. The technologies to produce them out of labor are T(L) = 2LT and NT(L) = 4LNT. The total amount of labor in this economy is L = 500. How would you label the following points (some are feasible, some efficient, some are unfeasible...)

a) (T, NT) = (0, 1000).

b) (T, NT) = (2000, 0)

c) (T, NT) = (100, 1800)

d) (T, NT) = (1000, 0)

e) (T, NT) = (100, 1000)

f) (T, NT) = (500, 1200)

g) (T, NT) = (1, 1998)

Reference no: EM131094793

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