Question: Consider two countries, Home and Foreign, which are closed to international trade. Home has 1,150 units of labor available, and Foreign has 680 units. Both
Consider two countries, Home and Foreign, which are closed to international trade. Home has 1,150 units of labor available, and Foreign has 680 units. Both countries can produce two goods, good 1 and good 2. Home's unit labor requirement in good 1 production is 8, while in good 2 production is 4. Foreign's unit labor requirement in good 1 production is 3, while in good 2 production it is 9. Assume that we plot good 1 in the x-axis. Plot Foreign's PPF. Enter the slope of Foreign's PPF (with two decimal digits)
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