Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507041
Author: Colander, David
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 2, Problem 7QE
To determine

Gain from trade when two countries have no comparative advantage in either of the goods.

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If a country produces more food and electronics than another country does it have a comparative advantage?
Will a country import or export products for which it has a comparative advantage? Explain.
What is the difference between absolute advantage and comparative advantage in decisions to trade with another country?
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