question archive The theory of comparative advantage states that there are gains from trade if countries specialize and optimize their opportunity costs
The theory of comparative advantage states that there are gains from trade if countries specialize and optimize their opportunity costs
Subject:EconomicsPrice: Bought3
The theory of comparative advantage states that there are gains from trade if countries specialize and optimize their opportunity costs. What is the difference between absolute advantage and comparative advantage? Why do the gains from trade depend on comparative advantage regions and countries have at a given period of time?
