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What are the ‘Lessons’ of the Specific Factor Model? Demonstrate this lesson using formal modeling (either...

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Economics

What are the ‘Lessons’ of the Specific Factor Model? Demonstratethis lesson using formal modeling (either graphs or equations).

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Answer Lessens Result of Specific Factor Model SFM The Specific factor model SFM is generally used to determine or showcase the effects of changing economy on different type of aspect like factor return output level and allocation of labours In SFM there are Many types of economic changes that can be considered involving a movement to trade free and sometimes the implementation of a tariff or quota it can be development of the labor or capital endowment or may be technological    See Answer
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