Views
5 years ago

Trade and Technology: The Ricardian Model - Faculty

Trade and Technology: The Ricardian Model - Faculty

Autarky: Equilibrium

Autarky: Equilibrium prices (cont.) 26
 Relative price of cheese, P C /P W a LC /a LW RD International Commercial Policy The Ricardian Model RS Relative domestic quantity of cheese, Q C Q W

Autarky: Equilibrium prices (cont.) International Commercial Policy The Ricardian Model Hence, the equilibrium relative price of a good equals the opportunity cost of producing that good in the absence of international trade. This is because relative prices must adjust so that wages are equal in the wine and cheese industries so that both wine and cheese are produced. If P C /a LC = P W /a LW � P C /P W = a LC/a LW workers will have no incentive to work solely in the cheese industry or the wine industry. 27


Wine storage cabinetsCompressor technology - AK Trading
Trades - Manukau Institute of Technology
Faculty of Trades & Applied Technology Convocation Program
Cyber-I - Faculty of Science and Technology
2012 Trade Show Schedule - Export.gov
Italian Food Processing Technology - Italian Trade Commission
Trade and Technology: The Ricardian Model - CER-ETH
Absolute and Comparative Advantage: Ricardian Model
Feenstra and Taylor Chapter 2 Problems Ricardian model of trade
Lecture Notes - Ricardian Model
Custom Pricing Models - Trading Technologies
A prospect theory model of goal behavior - Faculty
A Model of Innovation, Technology Transfer, and the World ...