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The answer to Ricardian model

Here is the problem (please show me the process how you get the answer):

a. In England each unit of wine requires eight hours of labor in its production and each unit of cloth requires four hours. The autarkic price of wine in terms of cloth in England is:

i. Two units of cloth.

ii. Two units of wine.

iii. One unit of cloth.

iv. Four units of wine.

v. None of the above.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M924084

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