University of Central Missouri Two Model Chairs and Food Paper
Question Description
2: Consider a model with twocountries, Home and Foreign, that each produce two goods, chairs and food,using two inputs, labor and land. Assume that Home is labor abundant, andproduction of chairs is labor intensive.
(a) Draw the PPF for eachcountry as well as the relative demand/supply picture. Assume that preferencesare identical in the two countries.
(b) If trade is allowed betweenthese two countries, which country will import chairs? Explain how you knowthis (use a picture).
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