Explain the implications of convergence in relative prices when two countries ( say Home and Foreign) trade. Why do we use general equilibrium analysis rather than partial equilibrium analysis to...


Explain the implications of convergence in relative prices when two countries ( say Home and Foreign) trade.


Why do we use general equilibrium analysis rather than partial equilibrium analysis to study comparative advantage? Explain.


How can we explain the lower flat section and the upper flat section of the Relative Supply (RS) curve?



Jun 07, 2022
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