Suppose that instead of 1200 workers Home had 2400. 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 is this case?
Suppose that instead of 1200 workers Home had 2400. Find the equilibriumrelative price. What can you say about the efficiency of world production and thedivision of the gains from trade between Home and Foreign is this case?