Business, 30.01.2021 19:10 barbareishon11

Assume that China and France each have 1,000 production units. With one production, China can produce either 10 containers of toys or 7 cases of wine. France can produce either 2 containers of toys or 7 cases of wine. Assume complete specialization where China produces 10000 containers of toys and France produces 7000 cases of wine. Both countries agree to trade at China’s domestic price where 10 containers of toys equals 7 cases of wine. Assume France exports 1400 cases of wine to China.

Assume that China and France each have 1,000 production units. With one production, China can pro

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Assume that China and France each have 1,000 production units. With one production, China can produc...

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