q suppose the relative price of good 1 falls, International Economics

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q suppose the relative price of good 1 falls

Q. Suppose the relative price of good 1 falls relative to the price of. What happens to the wage rate?

Answer: The labour component of the price of 1 is bigger than that of product 2. Therefore a fall in the comparative price of 1 will lower the demand for labour and will result in a decrease in the wage rate.

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International Economics: q suppose the relative price of good 1 falls

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