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(15 pts.) One difference in the assumptions of the Ricardian versus the specificfactors model is the following: The marginal productivity of labor is constant in
(15 pts.) One difference in the assumptions of the Ricardian versus the specificfactors model is the following: The marginal productivity of labor is constant in the Ricardian model and declining as production increases in the specificfactors model. Describe one implication of these differences to labor and one to capital (or land) owners
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