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Trade and inequality

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Trade and Inequality

In this question we will use the Specific Factors Model. Consider the case of Brazil, which we assume can produce Soybeans and Cars. Soybeans are produced with land and labor. Cars are produced with capital and labor. Labor is freely mobile across sectors, but land and capital are fixed in their own sectors.

Draw a figure illustrating the autarky equilibrium in Brazil. Be sure to include: (i) the PPF, (ii) the price line, (iii) the country-wide indifference curve. Label consumption and production. Draw Cars on the x-axis.

Reference no: EM133082776

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