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Management Studies

How are relative wages determined in the many-goods Ricardian model?

Answer

The intersection of the derived relative demand curve for labor with the relative supply curve.

The intersection of the multi-good supply and demand curves.

When equilibrium is met after transportation costs for all goods have been accounted for.

At the highest marginal propensity to consume for all production labor.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M993409

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