This preview shows page 1. Sign up to view the full content.
Unformatted text preview: *Based on COMPARATIVE not absolute advantage Trade allows both side to have more of both goods, leaving them both better off. * The price must lie between the 2 opportunity costs...
View Full Document
This note was uploaded on 04/02/2010 for the course AGEC 200 taught by Professor Anwarnaseem during the Spring '10 term at McGill.
- Spring '10