1.03 Comparative Advantage and Gains from Trade
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What is Canada's OC for producing one ton of cranberries?
2 tons pecans
What statement about advantage is true?
Canada has comparative advantage in cranberry production
Which of the following is true about this data?
The US has the absolute advantage in producing pecans
Which of the following is a true statement about the date for Twistia and Turnland?
The countries can benefit from trade if Twistia specializes in bread and trades pies from Turnland
Which range represents the mutually beneficial terms of trade for the US and Canada?
US trading 2 to 3 tons of pecans for one ton of cranberries
