Question: Explain the difference between absolute and comparative advantage. Next, explain if two countries should trade if there is a comparative advantage but no absolute advantage.

Explain the difference between absolute and comparative advantage. Next, explain if two countries should trade if there is a comparative advantage but no absolute advantage. Lastly, if Pennsylvania were a country, what do you think our comparative advantages might be (in other words what kinds of economic goods do we do well compared to others)?

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