Business, 14.07.2020 02:01 susanspagoot6385

Suppose Portugal has 700 workers and 26,000 units of capital, and France has 18,000 workers and 700 units of capital. Technology is identical in both countries. Assume that wine is the capital-intensive good and cloth is the labor-intensive good. a. Given the information above, which country is labor abundant? Which country is capital abundant? Explain
b. According to the Heckscher- Ohlin theorem, which country should export wine and import cloth? Which country should export cloth and import wine? Explain.

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Suppose Portugal has 700 workers and 26,000 units of capital, and France has 18,000 workers and 700...

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