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Lecture 41

Lecture 41-Comparative Advantage and Gains from Trade

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Jack Carr

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Thursday, April 1st, 2010 Comparative Advantage and the Gains from Trade Production Possibilities (per week) Cloth Corn John 10 2 Jane 16 8 55479:3L948941!74:.L3J 30&3L941 Cloth Corn John 0.2 Corn 5 Cloth Jane 0.5 Corn 2 Cloth Observation:John has comparative advantage in production of cloth (he can produce clothat a lower opp cost, 0.2 corn versus 0.5 corn) Jane has comp
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