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In the absence of trade (that is, autarky ), the equilibrium price in Greenberg is $ and the equilibrium price in Baxton is $ (Hint:
In the absence of trade (that is, autarky ), the equilibrium price in Greenberg is $ and the equilibrium price in Baxton is $ (Hint: Enter all monetary values in full. For example, $7,000 rather than $7.) In the absence of trade, which of the following statements is correct? Greenberg and Baxton are equally good at producing airplanes. Greenberg has the comparative advantage in production of airplanes. Baxton has the comparative advantage in production of airplanes. Now suppose both countries open up to international trade with each other
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