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Vietnam is relatively scarce in capital to labor compared to the ROW. All countries produce both goods and have the same technology and relative demand.
Vietnam is relatively scarce in capital to labor compared to the ROW. All countries produce both goods and have the same technology and relative demand. Due to opening up to international trade, the wage paid to workers in Vietnam _______ a. rises relative to the price of both goods b. rises relative to the price of one good but falls relative to the price of the other good c. falls relative to the price of both goods d. remains unchanged e. cannot tell from the information provided Explain the model you used and why
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