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QUESTION
TEMPLE UNIVERSITY Department of Economics Professor M. Fardmanesh 871 Ritter Annex Economics 3563 Spring 2015 Project #1: Autarky Equilibrium In our...
Show in a graph the autarky equilibrium for an economy whose production possibilities frontier has an increasing opportunity cost feature. Mark the angle that shows for consumers the value of the last x they consume in terms of y (i.e., MRS of x for y). Then mark the angle that shows the opportunity cost of the last x made in terms of y (i.e., MRT of x for y).
