Assume a Ricardian,constant-Cost World The United States Has a Labor Force of 1,000 Workers,and

question 3

Essay

Assume a Ricardian,constant-cost world.There are two countries,the United States and Canada.Each country can produce cameras and milk.The table below shows production per man-hour for each country.
$$\begin{array} { | l | c | c | } \hline & \begin{array} { l } \text { United } \\\text { States }\end{array} & \text { Carada } \\\hline \text { Carneras } & 6 & 2 \\\hline \text { Milk } & 1 & 2 \\\hline\end{array}$$
The United States has a labor force of 1,000 workers,and Canada has a labor force of 500 workers.
a)Graph the world supply curve for cameras.
b)Show a possible world demand curve and price (assuming that both countries completely specialize).

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