Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
1
Suppose that Home has 10 units of labor and 6 units of capital while foreign has 6 units of labor and 10 of capital.
(a) Draw the relative supply function at home, abroad, and for the world. What is the pattern of trade you would expect and why?
(b) What is the supply of food and clothing at home and abroad at the given relative price of 1?
(d) What are the factor prices at home in the trade equilibrium? Are they the same or different abroad?
(e) If the price of food rose slightly, what would happen to factor prices? Explain what is going on in the background to make these changes happen.
(f) Construct the factor price equalization region. Would the same outcome prevail if the countries just traded? Why?
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more