3 When two individuals produce efficiently and then make a mutually beneficial trade based on comparative adva

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3 When two individuals produce efficiently and then make a mutually beneficial trade based on comparative adva ntage, a they both obtain consumption outside their production possibil ities frontier.

b they both obtain consumption inside their production possibilities frontier.

c one individual consumes inside his production possibilities frontier, while the other consumes outside his.

d each individual consumes a poi nt on his own production possibilities frontier.

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Principles Of Microeconomics

ISBN: 125206

8th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw

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