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-Given the Information in the Table Above

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  -Given the information in the table above.If these two countries trade these two goods in the context of the Ricardian model of comparative advantage,then what is the lower limit of the world equilibrium price of widgets?
-Given the information in the table above.If these two countries trade these two goods in the context of the Ricardian model of comparative advantage,then what is the lower limit of the world equilibrium price of widgets?

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Definitions:

Variables

Any factor, trait, or condition that can exist in differing amounts or types and can affect the outcomes of scientific research.

Confounds

Variables that could potentially interfere with the outcome of an experiment, making it difficult to isolate the effects of the experimental variables.

Theory Construction

The process of developing a systematic framework to understand and explain phenomena, based on empirical evidence and logical reasoning.

Iterative Process

A method of solving a problem by repeatedly applying a sequence of operations until a desired outcome is reached.

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