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Question: al in wine bottles al in cheese kilos vintland 15...

Question details

aL in wine (bottles)

aL in cheese (kilos)

Vintland

15

10

Moonited Republic

10

4

Vintland has 30 million hours of labor. Moonited Republic has 20 million hours of labor.

A. If the equilibrium free trade relative price of cheese is ½ bottle of wine per kilo of cheese, what is the quantity of cheese produced in Vintland?

B. If the equilibrium free trade relative price of cheese is ½ bottle of wine per kilo of cheese, what is the quantity of wine produced in Vintland?

C. If the equilibrium free trade relative price of cheese is ½ bottle of wine per kilo of cheese, what is the quantity of cheese produced in Moonited Republic?

D. If the equilibrium free trade relative price of cheese is ½ bottle of wine per kilo of cheese, what is the quantity of wine produced in Moonited Republic?

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