when the two countries did not specialise, the total production of jeans was 23
ID: 1178188 • Letter: W
Question
when the two countries did not specialise, the total production of jeans was 23 million pairs per month and the total production of maize was 68 million kilograms per month. because of specialisation, the total production of jeans has increased by___________A)3million,B)12million,c)6million,d)9million pairs per month, and the total production of maize has increased by________A)24million,B)12million,C)18million,D)16million kilograms per month.because the two countries produce more jeans and more maize under specialisation,each country is able to gain from trade.calculate the gains from trade-that is , the amount by which each country has increased its consumption of each good relative to the first row of the table.in the table enter this differnce in the boxes across the last row(market increase in conumption)
euphoria arcadia
jeans maize jeans maize
without trade
prod.and consumption 15 20 8 48
with trade
prodution ??? ??? ??? ???
trade ______a)gets 18,b)give 18 ______a)gets54,B)gives54 _______a)gets18,b)give18 ______a)gets54,B)gives54 consumption ??? ??? ??? ???
gains from trade
increase in
consumption ??? ??? ??? ???
Explanation / Answer
c)6million _A)24million
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