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The principle of comparative advantage does not provide answers to certain questions. One of those questions is a. How are the gains from trade shared among the parties to a trade? b. Is it possible for specialization and trade to increase total output of traded goods? c. Do specialization and trade benefit more than one party to a trade? Od. Is it absolute advantage or comparative advantage that really matters?

The principle of comparative advantage does not provide answers to certain questions. One of those questions is a. How are the gains from trade shared among the parties to a trade? b. Is it possible for specialization and trade to increase total output of traded goods? c. Do specialization and trade benefit more than one party to a trade? Od. Is it absolute advantage or comparative advantage that really matters?

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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The principle of comparative advantage does not provide answers to certain questions. One of those questions is a. How are the gains from trade shared among the parties to a trade? b. Is it possible for specialization and trade to increase total output of traded goods? c. Do specialization and trade benefit more than one party to a trade? Od. Is it absolute advantage or comparative advantage that really matters?
Transcribed Image Text:The principle of comparative advantage does not provide answers to certain questions. One of those questions is a. How are the gains from trade shared among the parties to a trade? b. Is it possible for specialization and trade to increase total output of traded goods? c. Do specialization and trade benefit more than one party to a trade? Od. Is it absolute advantage or comparative advantage that really matters?
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