Question
) Which key assumptions of the two models result in the transformation curve (also known as production possibilities frontier) of each country being linear (that
) Which key assumptions of the two models result in the transformation curve (also known as production possibilities frontier) of each country being linear (that is, a straight line) in the Ricardian model and concave (or curved) in the Specific Factors model?
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Clifford W. Smith Jr., Jerold Zimmerman
6th edition
73523143, 73523149, 978-0073523149
