7. (10 points) In the accompanying diagram the curves labeled SB and CC show, for soybeans and...

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7. (10 points) In the accompanying diagram the curves labeled SB and CC show, for soybeans and cigars respectively, how the land-labor ratio chosen for each good's production varies with the wage-rental (w/r) ratio. Show on the diagram, for an arbitrary wage-rental (w/r) ratio, how the land-labor ratio varies across the two industries. Discuss the effect of your finding about the land-labor ratio on the Heckscher-Ohlin comparative advantage. Wagerental ratio. w/r CC SB Landlabor ratio

Posted Date: Jun 21, 2024 01:10 AM

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7. (10 points) In the accompanying diagram the curves labeled SB and CC show, for soybeans and...

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