In a Single Year, Argentina Can Raise 100 Tons of Beef

question 235

Essay

In a single year, Argentina can raise 100 tons of beef or produce 1,000 boxes of tulips.In the same growing season, Venezuela can raise 50 tons of beef or produce 750 boxes of tulips.When the two countries begin trading beef for tulips, we would expect the price of beef in Venezuela:
A.to fall from the autarky price.
B.to rise from the autarky price.
C.to remain at the autarky price.
D.to be 15 boxes of tulips.

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Definitions:

Independent Practice Association

An organization of independent physicians, or other healthcare providers, that contracts with health plans or directly with patients to provide care within negotiated price and service constraints.

HMO

Health Maintenance Organization, a type of health insurance plan that requires members to receive healthcare services from a network of designated providers.

Providers

Entities or individuals that supply services or goods.

Medicare

A federal health insurance program in the United States for people aged 65 and older, and for some younger people with disabilities.