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13 Dec 2019
Explain vey clearly please
Suppose that there are three factors: capital, labor, and land. Bread requires inputs of land and labor, and steel requires capital and labor. a.âWhich factors are variable, and which are specific? b.âSuppose Canadaâs endowments of land and capital are 10 capital and 100 land, and the United Statesâ are 50 capital and 100 land. Which good does each country export? c.âHow does trade affect the returns to land, labor, and capital in the United States and in Canada?
Explain vey clearly please
Suppose that there are three factors: capital, labor, and land. Bread requires inputs of land and labor, and steel requires capital and labor.
a.âWhich factors are variable, and which are specific?
b.âSuppose Canadaâs endowments of land and capital are 10 capital and 100 land, and the
United Statesâ are 50 capital and 100 land. Which good does each country export?
c.âHow does trade affect the returns to land, labor, and capital in the United States and in Canada?
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Trinidad TremblayLv2
17 Dec 2019
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