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France can produce either 50 units of cheese or 80 units of wine per hour. Canada can produce either 91 units of cheese or 47 units of wi labour hour. Suppose Canada follows its comparative advantage in d what to produce and trade with France at a trade price of 1.47 units o unit of cheese. For every 2600 units of goods that Canada produces ith

France can produce either 50 units of cheese or 80 units of wine per hour. Canada can produce either 91 units of cheese or 47 units of wi labour hour. Suppose Canada follows its comparative advantage in d what to produce and trade with France at a trade price of 1.47 units o unit of cheese. For every 2600 units of goods that Canada produces ith

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 26EQ
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36 of 38 France can produce either 50 units of cheese or 80 units of wine per labour hour. Canada can produce either 91 units of cheese or 47 units of wine per labour hour. Suppose Canada follows its comparative advantage in deciding what to produce and trade with France at a trade price of 1.47 units of wine per unit of cheese. For every 2600 units of goods that Canada produces and trades with France, what are the gains from trade in terms of the other goods? Answer: units (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS.) Unsure
Transcribed Image Text:36 of 38 France can produce either 50 units of cheese or 80 units of wine per labour hour. Canada can produce either 91 units of cheese or 47 units of wine per labour hour. Suppose Canada follows its comparative advantage in deciding what to produce and trade with France at a trade price of 1.47 units of wine per unit of cheese. For every 2600 units of goods that Canada produces and trades with France, what are the gains from trade in terms of the other goods? Answer: units (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS.) Unsure
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