Information for questions 21-25 The figure below depicts th…
Information for questions 21-25 The figure below depicts the production possibilities curve (PPC) for the U.S. and Canada, two countries that can produce cars and trucks. Assume the two countries trade only with each other. The U.S. and Canada have the same total amount of hours of labor engaged in production. When the two countries trade with each other, the trade price of cars must be in between two certain bounds. Enter a reasonable trade price that lies between those bounds. This is the trade price of cars (in terms of trucks), so if you enter 2.5, that means “2.5 trucks / car,” or “2.5 trucks per car,” of “you get 2.5 trucks per car traded.” Enter a whole or decimal number. Enter 0 if the answer cannot be obtained with the information given. Any number within the correct bounds will be accepted.