Question: Explain, verbally and analytically using a Factor Specific Model, why it is that owners of flexible factors are more likely to benefit from trade than

Explain, verbally and analytically using a ‘Factor Specific’ Model, why it is that owners of flexible factors are more likely to benefit from trade than the owners of factors that are fixed to one type of production. Be complete in your answer – be sure to include diagrams as appropriate.

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To explain why owners of flexible factors are more likely to benefit from trade than owners of factors fixed to one type of production we can use a Factor Specific model This model is typically employ... View full answer

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