Consider a two-country home and foreign two-good world, Business Economics

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Consider a two-country home and foreign two-good world

Consider a two-country (Home and Foreign) two-good world (wheat and cloth). Let MPLw and MPLc be 4 and 2, respectively. Let L=25. Suppose that the number of workers doubles in Home. What happens to the Home PPF and what happens to the no-trade relative price of what?

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Business Economics: Consider a two-country home and foreign two-good world

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Business Economics: Consider a two-country home and foreign two-good world

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