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This exercise applies the basic Ricardian model of one factor ( labor ) and two goods to the national economy of Home. Assume the following:
This exercise applies the basic Ricardian model of one factorlabor and two goods to the national economy of Home. Assume the following:
number of labor hours needed to produce a unit of in Home;
number of labor hours needed to produce a unit of in Home;
the price per ton of ;
the price per bolt of
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Which of the following conditions signifies that workers in Home will all want to work in the sector
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