Question: Using the data in the accompanying table, answer the following questions: a. For which good does Canada have a comparative advantage? b. For which good

  1. Using the data in the accompanying table, answer the following questions:
  3. a. For which good does Canada have a comparative advantage?
  4. b. For which good does Italy have a comparative advantage?
  5. c. What might be a set of favorable terms of trade for the two countries?
  6. d. Prove that both countries would be better off in the specialization-trade case than in the no-specialization-no-trade case.

economics

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