To maximize consumption-widgetland should produce

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Reference no: EM13861513

Widgetland has 60 workers. Each worker can produce 10 widget(s) or 12 wadget(s). Each resident in Widgetland currently consumes 8 widget(s) and 8 wadget(s). Wadgetland also has 60 workers. Each can produce 10 widget(s) or 8 wadget(s). Wadgetland’s residents consume 8 widget(s) and 7 wadget(s). Is there a basis for trade? If so, offer the countries a deal they can’t refuse

a. Is there a basis for trade (yes or no )

b. To maximize consumption, Widgetland should produce --------- wadgets

c. To maximize consumption, Wadgetland should produce ---------- widgets

d. Widgetland needs ------- widgets and has ---------- wadgets to trade for them.

e. Wadgetland needs -------- wadgets and has ---------- widgets to trade for them.

Reference no: EM13861513

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