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spiderman13 spiderman13
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A year ago
The Gains from International Trade

The table shows the production possibilities for two countries: Loompa Land and Wakanda.
Loompa Land​Wakanda
VibraniumChocolate​VibraniumChocolate
52​0​232​0
39​27​​174​18​
26​54​​116​36​
13​81​​58​54​
0108​​072​
In autarky, Loompa Land is producing 26 pounds of vibranium and 54 pounds of chocolate and Wakanda is producing 116 pounds of vibranium and 36 pounds of chocolate. Assume that each country specializes in production of the good in which they have the comparative advantage. How many additional pounds of vibranium and chocolate are produced after trade?

▸ 52 pounds of vibranium, 72 pounds of chocolate

▸ 90 pounds of vibranium, 18 pounds of chocolate

▸ 232 pounds of vibranium, 108 pounds of chocolate

▸ -90 pounds of vibranium, -18 pounds of chocolate
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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solid1solid1
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A year ago
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Just got PERFECT on my quiz
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this is exactly what I needed
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