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Draw how the world relative demand

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Consider the model of Ricardo in a setting of 6 goods and two countries.

a) Draw how the World Relative demand. (Hint: Y-axis has relative wages X-axis has the relative Labor demand). Explain what every single axis means and the marks or values you add to each axis.

b) Where in the relative demand curve a small change in wages can affect the specialization patterns (highlight clearly those parts)?

Reference no: EM132950490

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