(d). Suppose production of Cars and Textiles in Turkey requires capital and labor. But the capital is specific so that textiles uses a specific type of capital for textiles and cars uses a specific capital used for making cars. If Turkey opens for trade and imports cars and exports textiles, based on specific factors theory state which factor gains and which factor will lose? Briefly explain

(d). Suppose production of Cars and Textiles in Turkey requires capital and labor. But the capital is specific so that textiles uses a specific type of capital for textiles and cars uses a specific capital used for making cars. If Turkey opens for trade and imports cars and exports textiles, based on specific factors theory state which factor gains and which factor will lose? Briefly explain

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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