General Equilibrium of Production, Consumption and Trade | Economics
J.E. Meade assembled the analytical devices like the production possibility curve, the community indifference curves and offer curves in order to explain the general equilibrium of production, consumption and trade involving the two trading countries. Fig. 4.17 is employed to explain the general equilibrium situation concerning the two trading countries A and B. In Fig. 4.17, the commodity X is [...]