Suppose the production of lamb is labour intensive and the production of car is capital intensive. Use the following table to discuss the trade pattern between Canada and Australia for car and lamb. Shov all your calculations in support of your conclusion. Explain your answer. Using a hypothetical PPF show on graph how Canada can benefit from trade. Stock of Resources Canada Australia Capital 50 machines 20 machines Labour 200 workers 120 workers
Suppose the production of lamb is labour intensive and the production of car is capital intensive. Use the following table to discuss the trade pattern between Canada and Australia for car and lamb. Shov all your calculations in support of your conclusion. Explain your answer. Using a hypothetical PPF show on graph how Canada can benefit from trade. Stock of Resources Canada Australia Capital 50 machines 20 machines Labour 200 workers 120 workers
Chapter2: Economic Tools And Economic Systems
Section: Chapter Questions
Problem 3.5P
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