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mbowdish mbowdish
wrote...
Posts: 470
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4 years 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

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
Read 138 times
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wrote...
4 years ago
nations can consume along their consumption possibilities curve, which is outside of their production possibilities curve.
mbowdish Author
wrote...
4 years ago
Smart ... Thanks!
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