Question
Figure 2 below diagrammatically represents a specific factor model in which there are 2 goods (cloth and wheat) and 2 specific factors (capital for the
Figure 2 below diagrammatically represents a specific factor model in which there are 2 goods (cloth and wheat) and 2 specific factors (capital for the manufacturing of cloth and land for the production of wheat) and a third factor (labour) that can migrate between the two sectors and that enters the production function of both goods.
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
