Question

Table 3-11 Assume that Jamaica and Norway can switch between producing coolers and producing radios at...

Table 3-11

Assume that Jamaica and Norway can switch between producing coolers and producing radios at a constant rate.

Output Produced in One Day
Coolers Radios
Jamaica 12 6
Norway 24 3

Refer to Table 3-11. At which of the following prices would both Jamaica and Norway gain from trade with each other?

a. 1 radio for 4 coolers
b. 1 radio for 1 cooler
c. 1 radio for 10 coolers
d. 1 radio for 15 coolers
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Answer #1

Ans :- A) 1 radio for 4 coolers is Right answer.

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