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Assume that two countries, Home and Foreign, produce two goods: TVs and cars. Use the information below to answer the following questions: In the No-Trade

  1. Assume that two countries, Home and Foreign, produce two goods: TVs and cars. Use the information below to answer the following questions:

In the No-Trade equilibrium:

Home

Foreign

TV sector

Car sector

TV sector

Car sector

Wage = 8

Wage = ?

Wage* = 9

Wage* = 9

MPL = 4

MPL = ?

MPL* = ?

MPL* = 3

Price = ?

Price = 4

P* = 6

P* =?

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