Hi, I'm having trouble answering this question for my homework. Please help!
Assume the trading ratio is 2.5 units of timber for 1 movie. If Canada is Producing and consuming 150 timber and 50 movies before trade with the US, then begins to specialize COMPLETELY in timber and exports 150 units of timber to the US, how many movies will it be able to consume after trade?
Fill this out to if you can.
Timber Before Trade:
Movies Before Trade:
Movies with total specialization:
Timber with total specialization:
Timber After Trade:
Movies after trade:
Assume the trading ratio is 2.5 units of timber for 1 movie. If Canada is Producing and consuming 150 timber and 50 movies before trade with the US, then begins to specialize COMPLETELY in timber and exports 150 units of timber to the US, how many movies will it be able to consume after trade?
Fill this out to if you can.
Timber Before Trade:
Movies Before Trade:
Movies with total specialization:
Timber with total specialization:
Timber After Trade:
Movies after trade: