Pls explain q8 rechardian theory
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anwser is C?
The answer is C here.
Explanation:
Note: Autarky prices means a price of a closed economy. So for losing 1 pen in a closed economy (country A), 2 pencils would be gained. But now, due to international trade, 2.9 pencils are there (as compared to 2.2 pencils- where country B would have enjoyed a larger share).
Hope this helps!