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If two countries engage in Free Trade following the principles of comparative advantage, then

Chako

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8 years ago

If two countries engage in Free Trade following the principles of comparative advantage, then

If two countries engage in Free Trade following the principles of comparative advantage, then
A) MRTs but not relative prices will become equal in both countries.
B) trade will be unrestricted, regardless of relative costs and MRTs.
C) neither relative prices nor relative marginal costs (marginal rates of transformation-MRTs) in one country will equal those in the other country.
D) relative prices but not MRTs will become equal in both countries.
E) both relative prices and MRTs will become equal in both countries.

Textbook

International Economics: Theory and Policy

Edition: 10^th

Author: Krugman

Read 193 times

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machukian

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Chako Author

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8 years ago

Good answer, thank you

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machukian

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8 years ago

Good luck

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