For the following question, assume that all workers belong to a representative 'family'- each containing 2...

For the following question, assume that all workers belong to a representative 'family'- each containing 2 food workers and 1 clothing worker. Describe how the consumption patterns (the number of units of food and clothing consumed) of the 'families' change between autarky and the trade equilibrium. Are the 'families' in both countries unambiguously better-off? What is the intuition for this result?

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Rahul Sunny answered 2 years ago

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