Ecn 441 midterm exam - Study guides, Class notes & Summaries

ECN 441- Midterm Exam 2023...

3 assumption of the backyard production model - 1. constant returns to scale in exchange 2. no comparative advantage 3. constant returns to scale in production no cities, not better of clustering 3 assumptions of trading city - 1. increasing returns to scale in exchange 2. comparative advantage in cities 3. constant returns to scale in production cities will trade 3 assumptions of factory cities - 1. constant returns to scale in exchange 2. no comparative advantage ...