Suppose that before trade takes place, Japan is at a point on its PPC where it produces 15 laptop computers and 10 units of cloth. Once trade becomes possible, the price of a laptop computer is 5...


Suppose that before trade takes place, Japan is at a point on its PPC where it produces 15 laptop computers and 10 units of cloth. Once trade becomes possible, the price of a laptop computer is 5 units of cloth. In response, Japan moves along its PPC to a new point where it produces 20 computers and 10 units of cloth. Is the country better off? How do you know?



Nov 17, 2021
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