Trade and Technology: The Ricardian Model - Faculty
Trade and Technology: The Ricardian Model - Faculty
Trade and Technology: The Ricardian Model - Faculty
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<strong>Trade</strong>: Equilibrium prices (cont.)<br />
37 <br />
Relative price<br />
of cheese, P C /P W<br />
a * LC /a* LW<br />
a LC /a LW<br />
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.<br />
L/a LC<br />
L * /a * LW<br />
RD<br />
International Commercial Policy<br />
<strong>The</strong> <strong>Ricardian</strong> <strong>Model</strong><br />
RS<br />
Relative world quantity<br />
of cheese, Q C + Q * C<br />
Q W + Q * W
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