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Social media has drastically improved the way we can reach target audiences and serve our customers. Like its financial counterpart, the social media audit SMA can be described as a formalized review of anorganization's social media activities. See the 8 such optimum points demonstrated by the solutions 9 through 16 , Table 2 infra. Total consumptions by individual factor suppliers must add up to total outputs B j and N J produced in both countries. Remember that the system of equations set forth in Section 1 applies to either country b or n before trade autarky.
Numerical solutions to the model are also derivable. This is not to say, however, that a small difference in taste or technology is bad news. It depicts the aggregate output either bananas or nuts, produced by the two countries n and b, under conditions of autarky. The higher, topmost U-shaped curve, by comparison, depicts the aggregate world output of either N or B still greater under free trade than under autarky. Figure 2. Figure 3. So, more nuts are produced than bananas. This is why the aggregate two-country output of either N or B, i.
This is due to the high and low technology parameter effect of differences in the methods of production in the two assumed sectors. Related to this, and perhaps more important, is a certain intrinsic property of the CD function. Its factors are essentials as well as substitutes. This is because each factor is indispensable for the other. Labor is as indispensable as capital is. Related to these outcomes are interesting observations on factor allocations of L , K for two clone nations with different national tastes.
Moreover, it remains constant at just half of its total endowment 16! The particular factor is that used more intensively than the other factor. Let us now focus our attention on comparing factor prices between two factors within each country intra-nationally and between two clone countries internationally endowed with different national tastes. Figure 6 does indeed reveal the remarkable implications of free trade vs. Figure 4.
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Figure 5. Figure 6. In the case of free trade between countries b and n, note that the system of equations set forth in Section 1 can be basically reapplied to both countries b and n under free trade. Appendix In comparing Table 1 and Table 2 , note the following:.
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Table 2. Country here and greater than unity in the other country Banana Country. This implies that the workers in one country are poorer and those in the other country richer, respectively, than their capitalists. Here in our model complete equalization of incomes among all equally gifted, not only internationally, but also intra-nationally.
All these outcomes are depicted in Figure 6 and also in Figure 7. Let us summarize before we conclude. Commodity prices are distinctively different before trade and so are factor prices between almost clone nations.