ii) Write the expression of the price, p*, charged by the foreign firm in H, as a function of σ, s, c, τ, when trade is allowed.
Question
ii)
Write the expression of the price, p*, charged by the foreign firm in H, as a function of σ, s, c, τ, when trade is allowed.
Solution
To derive the expression for the price charged by the foreign firm in country H as a function of , , , and , we will follow these steps:
1. Break Down the Problem
We need to express the price in a way that incorporates the relevant parameters:
- (
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