Consider a simple two country two good framework in the context of the Ricardian Model. Show using
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Consider a simple two country two good framework in the context of the Ricardian Model.
Show using the below table, how, when two countries specialize according to comparative advantage, the total world output increases for both goods.
Labour force in each country is 100.
Country | Good X | Good Y |
A | 2 | 4 |
B | 3 | 6 |
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