Microeconomics
2nd Edition
ISBN: 9781259813337
Author: KARLAN, Dean S., Morduch, Jonathan
Publisher: Mcgraw-hill Education,
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Question
Chapter 2, Problem 16PA
To determine
Terms of trade for 1 pound of tomato.
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Ken and Daniel always eat miso soup and sushi in exact proportions: Ken eats one miso per two sushi; Daniel eats two miso per one sushi. They throw away any extra soup or sushi as it would not give them any pleasure. Once, they were stuck in the office together for hours, marking students’ assignments. Ken had ten miso soups and two sushi with him; Daniel had two miso and ten sushi.
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