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26-01-2024
Business

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In class, we developed a PPF for an economy that produced two goods with no factor substitution. This PPF gives some intuition for why the PPF in the the Heckscher-Ohlin Model is curved.

Imagine an economy makes only clothes (QC) and food (QF) and has two inputs of production: Labor (L) and Capital (K). It takes 4 units of capital and 1 unit of labor to make one unit of clothing. It takes 1 unit of capital and 1 unit of labor to make one unit of food. There is no substitutability between the two inputs. Which industry is labor intensive and which is capital intensive? Show how you know.

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