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Consider a U.S. firm's production of automobiles, including research and development (R&D) and component production.
a. Starting from a no-trade equilibrium in a PPF diagram, illustrate the gains from offshoring if the U.S. has a comparative advantage in component production.
b. Now suppose that advances in engineering abroad decrease the relative price of R&D. Illustrates this change on your diagram and state the implications for production in the U.S.
c. Does this U.S. firm gain from advances in R&D abroad? Explain why or why not.
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