Australia and the united states produce white and red wins, Ask an Expert

Economics

Australia and the United States produce white and red wins. current domestic prices for each prices for each wine are given in the following table:

Aust

white wine 5 AU$ red wine 10 AU$

White Wine 10 US$ Red Wine 15 US$

Exchange rate: 1AU$ = 1 US$

A. define and identify instances of absolute and comparative advantage

B. Gains from comparative advantage & trade exchange rates

C. describe Hackschar - Ohlin Theorem

D. different forms of protection from foreign competition

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91675846

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