Question: o. Using the equations in Table 1, solve algebraically for the numerical values needed to fill in Table ) below. Table 3: Post-trade Production and

 o. Using the equations in Table 1, solve algebraically for the

o. Using the equations in Table 1, solve algebraically for the numerical values needed to fill in Table ) below. Table 3: Post-trade Production and Consumption of Oranges and Cotton Post-trade: Entire World Australia New Zealand (Australia + New Zealand) relative price of oranges (Po / Pc ) = Production of: Oranges (millions of tons) = Cotton (millions of tons) = Consumption of: Oranges (millions of tons) = Cotton (millions of tons) = 7. In each of your two PPF diagrams (one for each country): . Draw the CPF (Consumption possibilities frontier), showing the combinations of the two goods obtainable through trading. Label the post-trade production point as "B" . Label the post-trade consumption point as "C". 2

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