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QUESTION
Let W= $10/hr. and E*W =$15 1. Will trade take place? How do you know? Explain 2. What Is the world ToT?
Let Wᴀ= $10/hr. and E*Wʙ =$15
1. Will trade take place? How do you know? Explain
2. What Is the world ToT? show your work.
3. Show in terms of purchasing power of an hour of labor that consumers of both countries are better off (if trade takes place).
