Country A produces XA of good X and Y units of good Y and has production...
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Country A produces XA of good X and Y₁ units of good Y and has production possibilities curve X2 + Y = 2500. Country B produces X units of good X and Y units of good Y and has production possibilities curve X3 + Y = 4900. Country can freely trade with each other. Problem 30: If XA = 40, find XB. Round your answer to the nearest integer number. Problem 31: If XA = 40 and the price of X is equal to $1,200 per unit, find the price of Y. Round your answer to the nearest dollar. Country A produces XA of good X and Y₁ units of good Y and has production possibilities curve X2 + Y = 2500. Country B produces X units of good X and Y units of good Y and has production possibilities curve X3 + Y = 4900. Country can freely trade with each other. Problem 30: If XA = 40, find XB. Round your answer to the nearest integer number. Problem 31: If XA = 40 and the price of X is equal to $1,200 per unit, find the price of Y. Round your answer to the nearest dollar.
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To solve problem 30 we can use the fact that the sum of X and Y for each country is fixed Given that ... View the full answer
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