If Tony and Patty specialize and trade, what are the gains from trade? Tony and Patty produce
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If Tony and Patty specialize and trade, what are the gains from trade?
Tony and Patty produce skis and snowboards. Tables 1 and 2 show their production possibilities. Each week, Tony produces 5 snowboards and 40 skis and Patty produces 10 snowboards and 5 skis.
Table 1
Table 2
Transcribed Image Text:
TABLE 1 TONY'S PRODUCTION POSSIBILITIES Snowboards (per week) 25 20 15 10 050 0 and and and and and and Skis (per week) 0 10 20 30 40 50
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