Tony and Patty produce skis and snowboards. The first table shows Tonys production possibilities and the second
Question:
a. Who has a comparative advantage in producing snowboards? And who has a comparative advantage in producing skis?
b. If Tony and Patty specialize and trade 1 snowboard for 1 ski, what are the gains from trade?
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Related Book For
Macroeconomics Canada in the Global Environment
ISBN: 978-0321778109
8th edition
Authors: Michael Parkin, Robin Bade
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