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Fill in the blanks to make the following statements correct. a. Gains from trade refers to the increased output attributable to specialization and trade. Part
Fill in the blanks to make the following statements correct. a. "Gains from trade" refers to the increased output attributable to specialization and trade. Part 2 b. Suppose Argentina can produce one kilogram of beef for $2.50 and Brazil can produce one kilogram of beef for $2.90. Argentina is said to have a comparative advantage in beef production over Brazil. The gains from trade do not depend on the pattern of absolute advantage
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