Question
List – I List – II a. Law of Absolute Cost Advantage 1. Haberler b. Doctrine of Comparative Cost Advantage 2. HescherOhlin c. Modern Theory of International Trade 3. Adam Smith d. Opportunity Cost Principle 4. Ricardo Codes: a b c d
Solution
a)3, b) 4, c) 2, d) 1
  Consider the following production function
Y = F(K,AL) = K1/3(AL)2/3
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