In what way was Ricardo's law of comparative advantage superior to Smith's theory of absolute advantage? How
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In what way was Ricardo's law of comparative advantage superior to Smith's theory of absolute advantage? How do gains from trade arise with comparative advantage? How can a nation that is less efficient than another nation in the production of all commodities export anything to the second nation?
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According to David Ricardos law of Comparative advantage even if one country is less efficient in th...View the full answer
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