2019-02-01T11:03:05+00:00 essay assignments

There are 2 countries, the U.S. and Mexico, that produce 2 goods, manufacturing and agriculture. Manufacturing output in the U.S. is a function of labor and capital inputs. Agriculture output in the U.S. is a function of labor inputs only.

production possibilities frontiers for the U.S. and Mexico

There are 2 countries, the U.S. and Mexico, that produce 2 goods, manufacturing and agriculture. Manufacturing output in the U.S. is a function of labor and capital inputs. Agriculture output in the U.S. is a function of labor inputs only.

Manufacturing output in Mexico is a function of labor input only. Agriculture output in Mexico is a function of labor and capital.

Manufacturing is capital intensive and agriculture is labor intensive. The U.S. is relatively more capital abundant.

My problem: What do the production possibilities frontiers for the U.S. and Mexico look like?


100% Plagiarism Free & Custom Written, Tailored to your instructions