How trade improves the well-being of an importing country

Reference no: EM133440627

Assignment:

1. Using a production possibilities frontier, indifference curves, and relative price lines, show how trade improves the well-being of an importing country.

2. Using a production possibilities frontier, indifference curves, and relative price lines, show how trade improves the well-being of an exporting country.

3. What is the relationship between wages and the marginal product of labour?

4. Explain how immigration is likely to affect wages and the marginal product of capital?

Reference no: EM133440627

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