Ch5 - Chapter 5 !! # $ ! $ " !$ ! & ) % '...

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Unformatted text preview: Chapter 5 !! # $ ! $ " !$ ! & ) % ' $ & $ " & " " " ( Y & * Q2 Q * 1 * C2 * u2 C1* P2* * u1 Qa = C a ua Pa P1* PPF X 1 Econ 3150 York U Chapter 5 * + +0 $) ,0 $) 1 # + , , & ( ( 2 Pha = Pfa . . /& /& P * = Pha = Pfa Pha ( ) & ( ) (3 Pfa ) 1 4 Y Af *1 ua f F’s PPF *1 Ah a uh H’s PPF P * = Pha = Pfa X 2 Econ 3150 York U Chapter 5 5 * & . & $ 6 (* & 2 ) 7 ($ )6 0 & 6 ($ ) 7 (* & ) 6 8 9: & 3 Econ 3150 York U Chapter 5 0 ; & 4 *8 *8 & & & 2 < 58 58 & < < 4 8 *8 = 4 3 # ; 6" & 2 42 < 2 4 >$ *86>98 ?$ *86?98 < ?58 >58 ! & $8 ?$8 $ = 4 42 < 2 = 4 42 < 2 $ 4 >*8 ?*8 < ?58 >58 ! & ?8 >8 = 4 4 >*8 ?*8 & & < ?@8 ($ 58) >@8 ($ 58) ! & ?08 >08 ( = & & ) ( . . :8 ) 4 Econ 3150 York U Chapter 5 9 = 6" 1 & . &2 • • & & Gains from Exchange vs Gains from Specialization (P*<Pa) Y Q* P* C* A= Q a u* ue = Ca Gains from specialization Gains from exchange ua PPF X 5 Econ 3150 York U ...
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