I've given my MSc exam in which all models. from Gravity, Ric, HO and Specific model was asked, I've taken this info and incorporated it. It was very well appreciated.👍
the two countries will consume in the same ratio when faced with the same relative price under free trade. They are subject to same indifference curves which are tangent to PPFs in different point and these are the reasons of relative price differences.
The matter will be actually the indifference of the goods will be producing only single cut at the production possibility in short run may be more than one,say tangential to the PPF.Hence,there will be several relative price changes accoding to the demand. One thing there may arise different PPF as well in short or long run.
Sir as the production possibility frontier are different hence there should be two constraint on production,in this case the demand is implicitly different hence they cannot be consumed with a same proportion or 1:1.
in which video do you explain why the price line must be a line tangent to the ppf? i checked out almost all your videos but i do not find an explanation for this basic issue. would be great if you could help me out with that!
Visit DrPCVerma Economist video that price line is tangent to PPF OR PPC for satisfying necessary condition for maxima condition for utility . For Eric White.
Great video! One minor suggestion: it might be easier to understand this concept using actual countries and goods, as it becomes a little hard to relate to country A, country B, good X and good Y :)
Which part friend? A good book if you are ever doing international economics is Salvatore International Economics. Maybe you already got your head round it.
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so much better than my lecturer, thank you
Finally I can undestand this model, after so many times Thank you!!
Thank you Professor, very well explained, helped me a lot!
my lecture is the best ever from SA.., good work in yours side
Really really good! Great explanation!
Thanks for a great video. was very hard to find a proper short video with easy to understand info plus not added with too many other assumptions.
I've given my MSc exam in which all models. from Gravity, Ric, HO and Specific model was asked, I've taken this info and incorporated it. It was very well appreciated.👍
the two countries will consume in the same ratio when faced with the same relative price under free trade. They are subject to same indifference curves which are tangent to PPFs in different point and these are the reasons of relative price differences.
yes:)
The matter will be actually the indifference of the goods will be producing only single cut at the production possibility in short run may be more than one,say tangential to the PPF.Hence,there will be several relative price changes accoding to the demand.
One thing there may arise different PPF as well in short or long run.
Thank you Sir, your video was really helpful.
thank you! you make it really easy to understand
Wonderful explained
Thanks
thank you so much! the first time i understand..wonderful method of teaching thank you
Sir as the production possibility frontier are different hence there should be two constraint on production,in this case the demand is implicitly different hence they cannot be consumed with a same proportion or 1:1.
very helpful professor Mike. Regards from Mexico 😁
Great explanation!!! Thanks
That was super helpful....Thank you!!
in which video do you explain why the price line must be a line tangent to the ppf? i checked out almost all your videos but i do not find an explanation for this basic issue. would be great if you could help me out with that!
Visit DrPCVerma Economist video that price line is tangent to PPF OR PPC for satisfying necessary condition for maxima condition for utility . For Eric White.
Thank you 👍
Thank you sir! Very helpfull and clear
thank you so much. Easy to understand.
Great video! One minor suggestion: it might be easier to understand this concept using actual countries and goods, as it becomes a little hard to relate to country A, country B, good X and good Y :)
Thank you from California!
First of all thanks for the video, my proposal to you is to number related clips so people won't have to search them.
Thanks, very well explained.
All throughout the video I kept thinking about how much you'd look like J.K Simmons in Whiplash if you shaved your head.
laughing my ass off
How do you find if a country is K abundant and if a country is L abundant?
Awesome Videos!
Goood job Mike
all thanks for the video
Effective lecture..( Bangladesh)
Thank you!!!
what relation between H-O and intra industry trade
very helpful thank you!
Thankyou!
Nice timepiece, submariner?
THANK YOU SO MUCH MAN!
Gracias!! Excelente!!
my dog Mr. Moore!
thanks
AMAZING!!!
o so nice sir
Wooo Hoo Thanks !
Why K for capital ?!
marc crusoe most of economics letter conventions date back to european economists - probably because Germans right and pronounce capital as Kapital(?)
marc crusoe Capital in german is Das Kapital.
Because on Russian is Капитал
I don't understand anything.
I think he just made things complex
Which part friend? A good book if you are ever doing international economics is Salvatore International Economics.
Maybe you already got your head round it.
Think of relative price as opportunity cost
it should be in urdu
Vaya VIH de teorema
Thank you !