Hecksher-Ohlin theory states that the relative factor prices in two countries are
determined by _____?
Answers
Answered by
0
Explanation:
Hecksher-Ohlin theory states that the relative factor prices in two countries are
determined by demand for and supply of them._____
According to general equilibrium theory of value, relative prices of commodious are determined by demand for and supply of them. In the long-run equilibrium under conditions of perfect competition, relative prices of commodities, as determined by demand and supply, are equal to average cost of production.
Similar questions