Question: Calculate the relative wage between the two countries (w/w*). Also, would the home country be better off, worse off or thesame if the relative price

Marginal Products Cheese Wine Labor Force Home 5 3 25 Assume no

Calculate the relative wage between the two countries (w/w*). Also, would the home country be better off, worse off or thesame if the relative price of wine after trade was equal to 1.5?Explain clearly.

Marginal Products Cheese Wine Labor Force Home 5 3 25 Assume no trade in questions a-e. Foreign 2 2 100

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