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With Eight Hours of Work Elmer Can Produce 20 Pounds

Question 114

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With eight hours of work Elmer can produce 20 pounds of carrots or 15 pounds of peas. With eight hours Bugs can produce 10 pounds of carrots or 7.5 pounds of peas. Can Elmer and Bugs gain from trade? Defend your answer.

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No, their opportunit...

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