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Jason and Holly produce lollipops and chocolates.Their production possibilities are given by the following functions: Jason: QL= 184 - 8QC Holly: QL= 204 - 6QC
Jason and Holly produce lollipops and chocolates.Their production possibilities are given by the following functions:
Jason: QL= 184 - 8QC
Holly: QL= 204 - 6QC
Before they trade, Jason is producing and consuming 88 lollipops and 12 chocolates.
Before they trade, Holly is producing and consuming90 lollipops and 19 chocolates.
Then they decide to specialize and trade based on comparative advantage.They agree to trade 92 lollipops for 14 chocolates.How many MORE lollipops will Jason have with trade compared to without trade?
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