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Assume that Trinbago is a small country that produces wine and motor vehicles, where motor vehicles are capital intensive. Trinbago is also capital intensive, and the standard Heckscher -Ohlin (H-O) assumptions hold. The other country in the model is Vincyland.  1. In autarky, according to Ohlin, how does Trinbago’s relative price of labour compare to Vincyland’s?

Assume that Trinbago is a small country that produces wine and motor vehicles, where motor vehicles are capital intensive. Trinbago is also capital intensive, and the standard Heckscher -Ohlin (H-O) assumptions hold. The other country in the model is Vincyland.  1. In autarky, according to Ohlin, how does Trinbago’s relative price of labour compare to Vincyland’s?

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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Assume that Trinbago is a small country that produces wine and motor vehicles, where motor
vehicles are capital intensive. Trinbago is also capital intensive, and the standard Heckscher -Ohlin
(H-O) assumptions hold. The other country in the model is Vincyland. 

1. In autarky, according to Ohlin, how does Trinbago’s relative price of labour compare to
Vincyland’s?


2. Show the necessary graphs to fully explain all requested effects. label graphs and
give brief explanations.

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Show the necessary graphs to fully explain all requested effects. label graphs and
give brief explanations.

 

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