
-Refer to above figure to answer this question.What could be possible terms of trade between the two countries?
A) 1 apple = 0.25 pears.
B) 1 apple = 2.5 pears.
C) 1 apple = 3 pears.
D) 1 pear = 0.5 apples.
E) 1 pear = 2.5 apples.
Correct Answer:
Verified
Q110: Table 13.14 shows the output of kumquats
Q111: Figure 9.10 shows the market for cloth
Q112: Table 13.14 shows the output of kumquats
Q113: Suppose that the cost of producing 1
Q114: Figure 9.10 shows the market for cloth
Q116: What is the difference between a tariff
Q117: Table 13.14 shows the output of kumquats
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