A country produces and consumes eight units of sugar cane costing $50 per unit and two iPods that cost $200 each. After specialization and trade, that country consumes eight units of sugar cane and four iPods. With 24 units of labor, what are wages in this country?
A) $33.33 without trade and $50 with trade
B) $50 without trade and $75 with trade
C) $50 without trade and $33.33 with trade
D) $33.33 without trade and $75 with trade
Correct Answer:
Verified
Q136: Use the following to answer questions:
Figure: Sofas
Q137: Use the following to answer questions:
Figure: Sofas
Q138: Use the following to answer questions:
Figure: Computers
Q139: When economists say that an individual or
Q140: Use the following to answer questions:
Figure: Computers
Q142: Adam Smith:
A) believed that trade in local
Q143: Conan O'Brien hosts the Conan show and
Q144: Conan O'Brien hosts the Conan show and
Q145: Figure: Benin Q146: Conan O'Brien hosts the Conan show and![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents