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Graph the world rs curve

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Reference no: EM132472922

Home has 1600 units of labor and Foreign has 1200. It takes Home workers 4 labor units to produce one cellular phone (C) and 2 labor units to produce a wristwatch (W). Similarly, it takes Foreign labor 8 units to produce one C and 2 labor units to produce one W.

  • Graph the world RS curve.
  • Let the common RD curve for both countries be represented by: QC/QW=2 PW/PC
  • Graph the RD curve on the same graph as RS above.

Reference no: EM132472922

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