5. Trade enables countries to move beyond their previous resource and productivity constraints. When countries specialize in
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5. Trade enables countries to move beyond their previous resource and productivity constraints. When countries specialize in producing those goods in which they have a comparative advantage, they maximize their combined output and allocate their resources more efficiently.
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Related Book For
Principles Of Microeconomics
ISBN: 9780691150093
13th Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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