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ochreoyster771Lv1

11 Dec 2019

What is absolute advantage? Why do economists consider comparative advantage as a basis of trade better than an absolute advantage?

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10 Dec 2021

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Related textbook solutions

Principles of Economics

2nd Edition, 2017

ISBN: 9781947172364

Principles of Macroeconomics

ISBN: 9781947172388

Principles of Microeconomics

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Related questions

1. International Trade

What is absolute advantage? What is comparative advantage?

Give an example where you have an absolute but not a comparative advantage

Why should we specialize and trade?

Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why?

1A)What is an absolute advantage? What is a comparative advantage?

B)Give an example where you have an absolute but not a comparative advantage.

C)Why should we specialize and trade?

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