SUPPOSE THE US AND JAPAN HAVE THE FOLLOWING PRODUCTION

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SUPPOSE THE US AND JAPAN HAVE THE FOLLOWING PRODUCTION

Problem 2 (40 points) Suppose the US and Japan have the following production possibility tables (final output combinations):

Japan	United States
Bolts of Cloth	Tons of Wheat	Bolts of Cloth	Tons of Wheat
1000	0	500	0
800	100	400	200
600	200	300	400
400	300	200	600

200	400	100	800
0	500	0	1000
1000	0	500	0

a. Draw each country’s production possibility curve.
b. In what good does the United States have a comparative advantage? What about Japan?
c. Is there a possible trade that benefits both countries? If there are several such possible situations, please discuss ONLY one.
d. Please demonstrate your answer to point c above graphically (be sure to properly label your graph).

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Title: SUPPOSE THE US AND JAPAN HAVE THE FOLLOWING PRODUCTION
Price: £ 99
Post Date: 2018-11-08T11:29:31+00:00
Category: Assignment
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