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Can you help with these economics (international trade) questions. Question 11 (1 point) Saved Suppose the technology and resource variables in the two countries take
Can you help with these economics (international trade) questions.
Question 11 (1 point) Saved Suppose the technology and resource variables in the two countries take the values as given below- Labour per pound of Labour per gallon of Total labour force cheese wine Country = 10 2LIF = 30 L = 120 A Country a* = 50 a* = 25 LC LW L = 250 B If the two countries specialize according to the Ricardian theory of comparative advantage, country A will produce ...units of .... ... & country B will produce of 10, wine, 5, cheese. 12, wine, 6, cheese. 12, cheese, 10, wine. 8, cheese,5, wine. 15, cheese, 25, wine.Question 12 (1 point) Saved If Home has a comparative advantage in wine production, then we must have O aLc/2LW 2LC* / 2LW aLc/2LW = 2LC*/aLW* O aLW /aLC =1 Onone of the aboveStep by Step Solution
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