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ECO/204 ECO/204 WEEK 5 DQ1 -COMPARATIVE AND ABSOLUTE ADVANTAGE PRINCIPLES OF MICROECONOMICS -ANSWER KEY

ECO/204 ECO/204 WEEK 5 DQ1 -COMPARATIVE AND ABSOLUTE ADVANTAGE PRINCIPLES OF MICROECONOMICS -ANSWER KEY
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ECO/204 WEEK 5 DQ1 -COMPARATIVE AND ABSOLUTE ADVANTAGE PRINCIPLES OF MICROECONOMICS

Discussion 1 – Comparative and Absolute Advantage

If you were President of the US and you were making decisions on trading, would you rather have a comparative or absolute advantage in trading? Can you have both a comparative and absolute advantage in trading? If so, what if at all would be the benefit for your country to trade with any other country?

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