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Suppose Canada has 100 workers and 160 units of capital whereas Mexico has 100 workers and 70 units of capital. Also suppose that each unit of product A requires 4 workers and 1 unit of capital to produce, whereas each unit of product B requires 5 units of capital and 2 workers.
(i) Apply the definitions of factor abundance and factor intensity to sort countries and products.
(ii) What would you expect the pattern of trade to be between Canada and Mexico? Explain your reasoning.
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Which of the following limits the ability of markets for insurance to distribute risk efficiently?
Barney's Liquids and Aunt Bee's Lemonade plan to expand their international partnership for the marketing and distribution of ready-to-drink tea products by adding 11 countries to their current markets. If the agreement is reached, operations are exp..
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