Models associated with post-heckscher-ohlin trade theory

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Reference no: EM13893301

Present in detail the following two theories/models associated with “post-Heckscher-Ohlin” trade theory. In the case of each theory/model, be sure to indicate important characteristics of real-world international trade that the theory/model is attempting to explain.

(a) The product cycle theory

(b) The Krugman theory/model with economies of scale and monopolistic competition

Reference no: EM13893301

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