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A month ago
As a whole, nations are better off after trade and specialization because:

▸ nations can consume along their consumption possibilities curve, which is outside of their production possibilities curve.

▸ nations can consume along their production possibilities curve, which is outside of their consumption possibilities curve.

▸ nations can consume along their consumption possibilities curve, which is inside of their production possibilities curve.

▸ nations experience an inward shift of their production possibilities curve.
Textbook 
Microeconomics: Principles, Applications, and Tools
Edition: 8th
Authors:
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wrote...
A month ago
nations can consume along their consumption possibilities curve, which is outside of their production possibilities curve.
wrote...
A month ago
Smart ... Thanks!
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