Given the diagram below, in which country A is producing at point P and consuming at point C: Country A is __________, and the ratio of the price of food relative to the price of books [i.e., (P_food/P_books)] reflected by price line P₀ is __________ than the (P_food/P_books) ratio that existed when country A was in autarky. A) exporting food and importing books; lower B) exporting food and importing books; higher C) exporting books and importing food; lower D) exporting books and importing food; higher

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The Answer of Given the diagram below, in which country A is producing at point P and consuming at point C: Country A is __________, and the ratio of the price of food relative to the price of books [i.e., (P_food/P_books)] reflected by price line P₀ is __________ than the (P_food/P_books) ratio that existed when country A was in autarky. A) exporting food and importing books; lower B) exporting food and importing books; higher C) exporting books and importing food; lower D) exporting books and importing food; higher

Given the Diagram Below, in Which Country a Is Producing