Portugal England 90 90 80 80 70 70 60 60 CPF 50 + 50 40 40 30 30 CPF PPF 20 PPF 20 10 10 0 10 20 30 40 50 60 0 10 20 30 40 50 60 cloth cloth wine wine
Portugal England 90 90 80 80 70 70 60 60 CPF 50 + 50 40 40 30 30 CPF PPF 20 PPF 20 10 10 0 10 20 30 40 50 60 0 10 20 30 40 50 60 cloth cloth wine wine
Chapter13: Capital, Interest, Entrepreneurship, And Corporate Finance
Section: Chapter Questions
Problem 4.8P
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Question
13. What is the relative price (opportunity cost ) of wine in Portugal, before trade begins?
a) 1/2 yard of cloth
b) 2 man-hours/bottle
c) 1/3 yard of cloth
d) 2 yards of cloth
e) 3 yards of cloth
Transcribed Image Text:Portugal
England
90
90
80
80
70
70
60
60
CPF
50
50 +
40
40
30
CPF
30
PPF
20
PPF
20
10
10 +
0 10 20 30 40 50 60
O 10 20 30 40 50 60
cloth
cloth
auIM
wine
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