Question: 1. Show that when DC : 1, then e: : age: = 1 our)? : u): = 1, PT : HEP? : 1/0,. Hint: Follow

1. Show that when DC : 1, then e: : age: = 1 our)? : u): = 1, PT : HEP? : 1/0,. Hint: Follow these steps: . Use the fact that 3;? : Cf to conclude that as?r : 'f.+%. . Find a similar expression for (if by assuming that all tradeables are consumed locally. . Take the ratio of (ref/he: and use e: + 63in = l to nd the labor allocation. 1 2 3 4. Plug back into the production functions to nd 1': yiv. 5. Calculate PT, P\" using the expressions for Cg\

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