(a) What would be the equilibrium-relative commodity price of wheat if DW(US+UK) shifted up by one-third in...
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(b) What does the answer to part (a) imply for DC(UK+US) in the right panel of Figure 2.3?
Figure 2.3
Transcribed Image Text:
PwPc PolPw Swus u) 3/2 213 C(UK US) 1/2 120 180 Wheat 240 240
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a If D WUSUK shifted up in Figure 23 the equilibrium relative comm...View the full answer
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