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2. Comparative and absolute advantage Felix and Janet are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of
2. Comparative and absolute advantage
Felix and Janet are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of barley and alfalfa each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing barley or alfalfa or to produce barley on some of the land and alfalfa on the rest.
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