Present in Detail the Following Two Theories/models Associated with "Post-Heckscher-Ohlin

question 12

Essay

Present in detail the following two theories/models associated with "post-Heckscher-Ohlin" trade theory. In the case of each theory/model, be sure to indicate important characteristics of real-world international trade that the theory/model is attempting to explain.
(a) the product cycle theory
(b) the Krugman theory/model with economies of scale and monopolistic competition

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Definitions:

Lumbar

Referring to the lower part of the spine or lower back region, composed of five vertebrae between the thoracic vertebrae and the sacral region.

Diencephalon

The diencephalon is a region of the brain that includes structures such as the thalamus and hypothalamus, integral to the regulation of various physiological processes.

Brain Stem

The lower part of the brain that connects the cerebrum with the spinal cord and controls vital functions like breathing and heart rate.

Cerebellum

A part of the brain located under the cerebrum, responsible for coordinating voluntary movements and maintaining balance and posture.