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Exercise on Ricardian model: Assume that Spain has a total supply of labor hours of 4000 and Belgium a total supply of l
Posted: Wed Mar 09, 2022 8:29 am
by answerhappygod
- Exercise On Ricardian Model Assume That Spain Has A Total Supply Of Labor Hours Of 4000 And Belgium A Total Supply Of L 1 (93.34 KiB) Viewed 45 times
Exercise on Ricardian model: Assume that Spain has a total supply of labor hours of 4000 and Belgium a total supply of labor hours of 4800. Each country can produce two goods: bicycles and skateboards. The unit labor requirements are in the following table: UNIT LABOR Bicycles (1 unit) Skateboards (1 unit) REQUIREMENTS Spain 16 h 4 h Belgium 8 h 10 h State what the production possibility frontier equation is for Spain