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Quantities of mobile phones or pounds of wheat

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Reference no: EM132476883

Suppose, Mexico and USA only produce two goods Wheat and Mobile phone. Assume that USA's maximum daily production per worker is 40 pounds of wheat when producing only wheat, and 20 mobile phones when producing only mobile phones. On the other hand, Mexico's maximum daily production is 35 pounds of wheat when producing only wheat, and 5 mobile phones when producing only mobile phones.

Assume that currently USA produces and consumes 20 pounds of wheat and 10 mobile phones. On the other hand, Mexico produces and consumes 14 pounds of wheat and 3 mobile phones. Remember the table, I made on the class regarding gains from trade? You need to make a similar table that will show how many quantities of mobile phones or pounds of wheat each country can gain from trading with each other.

Reference no: EM132476883

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