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Problem 3. Review the Heckscher Ohlin model (textbook and notes) before starting this problem. Once again rewrite the last six digits of your student ID number (yeu-ne not-witing This time characterize each number as Odd or Even below (let the number 0 be Even) (A) (B) (C) (D) (E) (F) (Example: If you ID is 0490715 the last six digits are 490715. You would then write Even (A) Odd (B) Even (C) Odd (D) Odd(E)Odd(F) Use the letters as follows If A is Even - Home; Odd - Foreign; If B is Even - Foreign; Odd - Home (we won't use B below) If C is Even - Labour: Odd - Capital If D is Even - Land; Odd-Energy If E is Even - Food; Odd - Cloth If F is Even-Increase; Odd-Decrease (example: Hence given the ID 0490715 we would have A - Home, B - Foreign ( Not used ), C - Labour, D - Energy, E-Cloth, F - Decrease) Assume a Heckscher Ohlin (H-O) model with "large" countries for this problem. Four problem test your knowledge of the main results of the HO model. In each problem state which of the four main trade theorems of the HO model of trade best pertains to the problem. Explain your reasoning for your answers a) Food and cloth are both produced in Home and Foreign. Determine the equilibrium price of (C) and D) if it takes 3 units of (C) and 4 units of Price of (C)= Price of (D) = Relevant trade theorem used in answering problem Why? Problem 3. Review the Heckscher Ohlin model (textbook and notes) before starting this problem. Once again rewrite the last six digits of your student ID number (yeu-ne not-witing This time characterize each number as Odd or Even below (let the number 0 be Even) (A) (B) (C) (D) (E) (F) (Example: If you ID is 0490715 the last six digits are 490715. You would then write Even (A) Odd (B) Even (C) Odd (D) Odd(E)Odd(F) Use the letters as follows If A is Even - Home; Odd - Foreign; If B is Even - Foreign; Odd - Home (we won't use B below) If C is Even - Labour: Odd - Capital If D is Even - Land; Odd-Energy If E is Even - Food; Odd - Cloth If F is Even-Increase; Odd-Decrease (example: Hence given the ID 0490715 we would have A - Home, B - Foreign ( Not used ), C - Labour, D - Energy, E-Cloth, F - Decrease) Assume a Heckscher Ohlin (H-O) model with "large" countries for this problem. Four problem test your knowledge of the main results of the HO model. In each problem state which of the four main trade theorems of the HO model of trade best pertains to the problem. Explain your reasoning for your answers a) Food and cloth are both produced in Home and Foreign. Determine the equilibrium price of (C) and D) if it takes 3 units of (C) and 4 units of Price of (C)= Price of (D) = Relevant trade theorem used in answering problem Why