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nakungth nakungth
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6 years ago
Canada produces MP3 players and lumber, and the horizontal axis for Canada's production possibilities frontier represents the amount of lumber produced.  Canada's borders are not initially open to trade, and the country consumes along its production possibilities frontier where the MRT and MRS equal the price ratio for the two products ($200 per 1,000 board-feet of lumber versus $100 per MP3 player).  If Canada opens its borders to trade with China at world prices for the two goods ($300 per 1,000 board-feet of lumber and $100 per MP3 player), what trade pattern develops for Canada?
A) Canada will import lumber and MP3 players
B) Canada will import lumber and export MP3 players
C) Canada will export lumber and import MP3 players
D) Canada import lumber and MP3 players
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Microeconomics

Microeconomics


Edition: 8th
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boransalboransal
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6 years ago
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nakungth Author
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6 years ago
Thanks for your help!!
ofsuahasiufhoas
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Yesterday
Thanks
Jose^2
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2 hours ago
Helped a lot
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