please answer the following questions regarding extensions of simple Ricardian model:a) The H-O model is famous for being elegant and mathematically sophisticated, yet failing to describe reality. Explain the leontief Paradox and then explain how economists “solved” this paradox.b) which model of intra-industry trade best explain in the following industries ? Remember to clearly explain the critical differences between your chosen model and every alternative .a. Wireless chargersb. Beer
Extensions of simple Ricardian model
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