ku Posted April 28, 2005 Share Posted April 28, 2005 This is from economics but it's mainly a math problem I'm dealing with. In this economic model we are dealing with two goods, textiles T and electronics E and two countries China C and Japan J. The lecturer put the images below up. The first image is a graph of the goods price ratio to the goods ratio. These is the relative supply curve. The countries are initially in autarky and after free trade both country J and country C move towards the world relative supply [math]RS^W[/math]. The second image below is the production possibilities frontier of country J, a graph of textile output to electronics output. What I want to know is whether the J and W in the second image are the right way around because I suspect that they are the wrong way around. I'm not sure if I've explained this clearly. If anyone knows about this topic in enough detail to compensate for my incoherence, I'd be grateful. Link to comment Share on other sites More sharing options...
Abd-al-Karim Posted April 28, 2005 Share Posted April 28, 2005 Could you maybe define the axes in the first diagram that would help me understand the problem a little better. Link to comment Share on other sites More sharing options...
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