Question
1. Under what conditions is the ppf linear rather than bowed out? Give an example of a ppf that would give a linear ppf. 2.
1. Under what conditions is the ppf linear rather than bowed out? Give an example of a ppf that would give a linear ppf.
2. Is absolute advantage or comparative advantage more important for trade? Give an example.
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The Theory Of Moral Sentiments
Authors: Adam Smith, D D Raphael
1st Edition
0865970122, 9780865970120
