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I need help with parts a thorugh e. Read the textbook KOM page 81 What is a specific factor. (a) What are examples of specific
I need help with parts a thorugh e.
Read the textbook KOM page 81 "What is a specific factor". (a) What are examples of specific factors? Can you think of other examples? Suppose that the United States and China produce two goods: computers and textiles. The production of both goods employs managers and manufacturing workers. (b) In this case, what do you consider to be mobile factors (in relative terms)? What are immobile factors? Let the price of textiles be 1. Suppose that with trade, the price of computers increases in the U.S. compared to its pre-trade level. (c) Does trade benefit U.S. managers? (d) Does trade benefit U.S. computer manufacturing workers? (e) What about textile manufacturing workersStep by Step Solution
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