If the opportunity cost for US was 1 shoe = -10 sweaters and Canada's opp cost was 1 shoe = -20 sweaters. Who should be the seller and buyer of shoes? What would be the terms of trade here? Would there be trade for 1 shoe = 5 sweaters, why or why not?

Name: if the opportunity cost for us was 1 shoe 10 sweaters and canadas opp cost was 1 shoe 20 sweaters who should be the seller and buyer of shoes what would be the terms of trade here would ther 30423
Uploaded: 2022-06-15T17:55:57-08:00
Duration: 59 s
Channel: Nick Johnson
Description: if the opportunity cost for us was 1 shoe 10 sweaters and canadas opp cost was 1 shoe 20 sweaters who should be the seller and buyer of shoes what would be the terms of trade here would ther 30423

          If the opportunity cost for US was 1 shoe = -10 sweaters and Canada's opp cost was 1 shoe = -20 sweaters.
Who should be the seller and buyer of shoes? What would be the terms of trade here? Would there be trade for 1 shoe = 5 sweaters, why or why not?

Added by Samantha B.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Nick Johnson

06/15/2022

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In Canada, the opportunity cost of 1 shoe is -20 sweaters. Show more…

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If the opportunity cost for US was 1 shoe = -10 sweaters and Canada's opp cost was 1 shoe = -20 sweaters. Who should be the seller and buyer of shoes? What would be the terms of trade here? Would there be trade for 1 shoe = 5 sweaters, why or why not?