Suppose that instead of 1,200 workers, Home has 2,400. Find the equilibrium relative price. What can you

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Suppose that instead of 1,200 workers, Home has 2,400. Find the equilibrium relative price. What can you say about the efficiency of world production and the division of the gains from trade between Home and Foreign in this case?

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International Economics Theory and Policy

ISBN: 978-0273754206

9th Edition

Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz

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Question Posted: Oct 24, 2012 11:37 PM

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Suppose that instead of 1,200 workers, Home has 2,400. Find the equilibrium relative price. What can you

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The increase in the number of workers at Home shifts out the relative supply schedule such that ...View the full answer

International Economics Theory and Policy

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