Include a discussion of what the story of the bees taught you about comparative advantage. What does Louisiana have a comparative advantage over California in? How do countries (or in this case, states) determine what to specialize in? Address the question, who gains and who loses as a result of trade? Who gains and who loses as a result of the imposition of a trade tariff ?

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The Buzz on Comparative Advantage A Lesson from the Bees Imagine two beehives one adept at making honey and the other skilled at collecting pollen The honeymaking hive though can also gather pollen al... View the full answer