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1.Elaborate on the Factor Endowments Theory. This theory is based on the Comparative Advantage reason for trade, which stems from cost. What is the empirical
1.Elaborate on the Factor Endowments Theory. This theory is based on the Comparative Advantage reason for trade, which stems from cost. What is the empirical evidence?
2. Expound on the Economies of Scale theory of Paul Krugman, as a reason for trade, which also relates to cost. How is it that the empirical evidence supports it?
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