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Use the following information to answer the next two questions.

Question : Use the following information to answer the next two questions. : 6607

Use the following information to answer the next two questions.

Suppose that 500 hours of labor in the US could produce either 700 units of product X or 800 units of product Y. 500 hours of labor in Canada could produce either 900 units of X or 1000 units of Y. Both countries would be better off if the US specialized in producing product X and Canada specialized in producing product Y.

True or False

International trade between the US and Canada for goods X and Y would occur is the market value for each good was Y=.89X

true or false

Solution
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Mathematics 1 Year Ago 191 Views
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