Illustarte what would happen to the world price if income


Analysis of absolute advantage theory.

Create an example of a absolute advantage model by 'choosing two countries and two products

In a new diagram, and starting from a trading equilibrium, illustarte what would happen to the world price if income increased by exactly the same, small amount in both nations

 

Rice

Steel

U.S

10

20

Canada

20

10

1100_absolute advantage theory..jpg

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Business Economics: Illustarte what would happen to the world price if income
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