Describe the country pattern of commodity trade

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Reference no: EM133328147

Question: A country's output vector is X = [7, 15, 6], the world's output is XW = [1000, 900, 1000], theprice vector is p = [4, 4, 3] and the commonly used input-output matrix is:A =??211111121??where the first row describes labour coefficients, the second row describes land coefficient, andthe third row describes capital coefficients. All countries have identical homothetic preferencesand balanced trade.

(a) Find the factor endowments vector for this country.

(b) Describe the country's pattern of commodity trade.

(d) Describe the country's pattern of trade in factor content.

(e) Find the equilibrium factor prices

Reference no: EM133328147

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