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lovepink1122 lovepink1122
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A year ago
If two nations want to trade with one another, they can determine their respective comparative advantages by

▸ hiring economists to gather and interpret the relevant data.

▸ allowing firms in each country to freely engage in international trade.

▸ making certain that the prices of tradable goods and services are equal in both nations.

▸ first determining which has absolute advantage in the production of goods and services.

▸ computing the opportunity costs of all goods and services.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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sherbiejr16sherbiejr16
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