3. “In a nation with K being abundant and L being scarce, with opening of trade the equilibrium rental rate rises by a g

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3. “In a nation with K being abundant and L being scarce, with opening of trade the equilibrium rental rate rises by a g

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3. “In a nation with K being abundant and L being
scarce, with opening of trade the equilibrium rental rate rises by
a greater percentage than the percentage changes in the prices of
both goods, while the equilibrium wage rate rises by less than the
percentage changes in the prices of both goods.” Evaluate
fully.
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