Explain the difference between the gains from exchange (consumption gain) and the gains from specialization (production gain).

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Explain the difference between the “gains from exchange” (consumption gain) and the “gains from specialization” (production gain).

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International Economics

ISBN: 9780078021671

8th Edition

Authors: Dennis Appleyard, Alfred Field

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Question Posted: Dec 02, 2015 04:20 AM

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Explain the difference between the gains from exchange (consumption gain) and the gains from specialization (production gain).

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The gains from exchange consumption gain occur because of the oppo...View the full answer

International Economics

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