In the computers and shirts example from the chapter, the United States traded one computer to Mexico
Question:
a. Why is trading away a computer for three shirts a good trade for the United States? Why is it also a good deal for Mexico?
b. What if, instead, the agreed-upon terms of trade were one computer for eight shirts. Would this trade still benefit both the United States and Mexico?
c. What is the maximum (and minimum) number of shirts that a computer can trade for if the United States and Mexico are both to benefit from the trade?
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a This is a good deal for the United States because it only gave up one shirt to produ...View the full answer
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