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ktpizzle1993 ktpizzle1993
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Consider two countries that can produce rice and other products. If neither country has an absolute advantage in the production of rice,

▸ neither country can possibly have a comparative advantage in the production of rice.

▸ the opportunity cost of producing rice must be identical in the two countries.

▸ there is no possibility that either country will import rice from the other.

▸ then rice should not be produced.

▸ rice will still be traded as long as one of the countries has a comparative advantage in its production.
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Microeconomics


Edition: 17th
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shanej399shanej399
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rice will still be traded as long as one of the countries has a comparative advantage in its production.

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