The last part of the video says "until the price of cheese relative to wine equals to the cost of production in the home country and then you can see the home country shift to some production of cheese relative to wine" Correct me if I'm wrong, I thought it'd be the foreign country that shifts some production from wine to cheese when the relative price reaches 2 which is the opportunity cost that allows foreign country to produce cheese.
Oh my God, thank you SOOO MUCH sir!!! I understand all the economics theory written or explained by words but somehow when it comes to graphs I just freeze and can't tell apart which line represents which thing and why is put at their specific place... thank you for slow and detalized explanation!
Thank you, Mr. Pascale. Best explanation so far. Only one question, in reference to the cheese-wine example in Krugman's book. What level (number) reaches the relative quantity supply in the point of fully specialization? In (L/aLC)/(L*/a*LV), given the example in the book, I believe it is 3. But, as the total labor units of each country (Home and Foreign), is not determined, I am not sure. Thanks in advance.
The last part of the video says "until the price of cheese relative to wine equals to the cost of production in the home country and then you can see the home country shift to some production of cheese relative to wine" Correct me if I'm wrong, I thought it'd be the foreign country that shifts some production from wine to cheese when the relative price reaches 2 which is the opportunity cost that allows foreign country to produce cheese.
Thanks you! I finally understood this curve. It only miss the relative demand curve so we can understood the production equilibrium.
Good point. I will make a follow-up video including relative demand.
so clearly explained and had a good understanding of it
Oh my God, thank you SOOO MUCH sir!!!
I understand all the economics theory written or explained by words but somehow when it comes to graphs I just freeze and can't tell apart which line represents which thing and why is put at their specific place... thank you for slow and detalized explanation!
You are welcome.
Thank you Prof!
Finally understand the graph!! Thank you sir!
Finaly understood it ! It was very blurry on paper, thanks sir
+Loris Caruso You are welcome.
thank you so much! I finally understood the RS. May I ask if the video for RD is already up?
THANK YOU!!! My first international trade exam is tomorrow and I feel much better prepared now.
You are welcome.
Really helpful thank you
Thank you, Mr. Pascale. Best explanation so far. Only one question, in reference to the cheese-wine example in Krugman's book. What level (number) reaches the relative quantity supply in the point of fully specialization? In (L/aLC)/(L*/a*LV), given the example in the book, I believe it is 3. But, as the total labor units of each country (Home and Foreign), is not determined, I am not sure. Thanks in advance.
Thank you so much!
Excellent, thanks!
Thank you so much! Very clear explanation
You are welcome.
Thank you so much ! Finally got it
Thank you sir
You are welcome.
Thank you for the explanation.
thank u
Thank you!
You're Welcome.
Magic, Thanks
You are welcome.
Hi i am watching this video very good explanation. Does anyone now how to handle the same question but with 3 countries ??
😂😂are u kidding me