Under autarky, when the price of Y is equal to one, the equilibrium price of X in terms of Y is

Question

Accepted Answer

equal to the opportunity cost of X at equilibrium

Answer

less than the opportunity cost of X in terms of Y at equilibrium

Answer

greater than the negative of the slope of the production possibility frontier at the equilibrium point

Answer

greater than the opportunity cost of X in terms of Y at equilibrium

Answer

equal to the real wage

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