SOLUTION: 11. From the following information calculate the total input shares of labor and capital in each dollar of cloth output 0.20 0.10 0.20 0.40 0.00 0.00 For Each Dollar of Cloth Synth

Question 1169027: 11. From the following information calculate the total input shares of labor and capital in each dollar of cloth output 0.20 0.10 0.20 0.40 0.00 0.00 For Each Dollar of Cloth Synthetic Fiber Cotton Fiber Output Output Output Direct labor input 50.50 $0.30 $0.60 Direct capital input 0.70 Synthetic fiber input 0.00 Cotton fiber input 0.00 All inputs $1.00 31.00 $1.00 Cloth is the only product that this country exports. The total input share of labor in producing $1.00 of import substitutes in this country is $0.55, and the total input share of capital is $0.45. Is this trade pattern consistent with the fact that this country is relatively labor-abundant and capital-scarce?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
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