Australia is land abundant, and India is labor abundant. Wheat is land intensive relative to textiles. Graphically

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Australia is land abundant, and India is labor abundant. Wheat is land intensive relative to textiles. Graphically demonstrate the pre trade and post trade equilibria between these two countries. Find and label the trade triangles for each. Which factors gain and which factors lose when trade arises between these two countries? Explain carefully.

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International Economics

ISBN: 9780321783868

9th Edition

Authors: Steven Husted , Michael Melvin

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