What is the price of manufactures in terms of food


Country A has 33,000 units of labor and can produce 2 goods, manufactures and food. A's producers take 3 units of labor to produce one unit of manufactures and 11 units to produce one unit of food. Country B has 48000 units of labor and takes 6 units of labor to produce one unit of manufactures and 3 units to produce one unit of food. What is the price of manufactures in terms of food at which A and B would respectively supply manufactures? What would A export in Adam Smith's world? What is the amount it could supply?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: What is the price of manufactures in terms of food
Reference No:- TGS054410

Expected delivery within 24 Hours