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a. Briefly explain the theory on how free trade and perfect competition lead to an equalization of wage rate internationally. (5 marks) b. In the

a. Briefly explain the theory on how free trade and perfect competition lead to an equalization of wage rate internationally. (5 marks) b. In the real world, however, we observe that the wage rate greatly varies between developed and developing countries, in the same sector even after the adoption of free trade. Explain.

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