Question: 3. a) Given the data in question 2, what is the total output of the two countries for both products? b) If each country were
3.
a) Given the data in question 2, what is the total output of the two countries for both products?
b) If each country were to specialize in the product in which it has a comparative advantage, what will be the total output of the two countries for both products?
c) What will be the gains from trade?
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