My bad.So I solved first three parts. Germany has competitive advantage in producing cars and Japan has competitive advantage in producing motorcycles. When the world relative price is 3. The...
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Aug 19, 2018, 02:48 AM
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My bad.So I solved first three parts. Germany has...
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Aug 19, 2018, 02:17 AM
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How does the new world price affect the relative wage in ricardian model
The Ricardian model. Germany and Japan produce cars and motorcycles. In Germany,
One car requires four units of labor and one motorcycle requires two units of labor. In Japan,
The corresponding...
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