Question

(scenario: the production of wheat and toys) look at the scenario production of wheat and toys. if each country specializes in the good for which it has the comparative advantage, then the price of wheat in terms of toys will be

Answer 1

The answer to this question is "between two units of toys and between three units of toys". We are given a scenario of a wheat and toys production. Look at the scenario production of wheat and toys such as if each country specializes in the good for which it has a comparative advantage and then the price of wheat in terms of toys will be "between two units of toys and three units of toys".