Question
Under no trade, if the relative price of cloth (in terms of wheat) in Foreign is pc pw=1 whereas the relative price of cloth in
Under no trade, if the relative price of cloth (in terms of wheat) in Foreign is pc pw=1 whereas the relative price of cloth in Home is pcpw=2, what trade pattern you would expect?
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Clifford W. Smith Jr., Jerold Zimmerman
6th edition
73523143, 73523149, 978-0073523149
