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According to the law of comparative advantage, when one country sells goods for which it has the comparative advantage in production and buys goods for
According to the law of comparative advantage, when one country sells goods for which it has the comparative advantage in production and buys goods for which it does not have the comparative advantage in production
total output to each person can be expanded.
sellers of goods will win and buyers of goods will lose.
buyers of goods will win and sellers of goods will lose.
total output will fall.
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