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Since a comparative advantage implies that a country can produce a like at a lower opportunity cost (less labor, land, and/or capital) how do you
Since a comparative advantage implies that a country can produce a like at a lower opportunity cost (less labor, land, and/or capital) how do you suppose the terms of trade are determined between two countries? How would define a country's absolute advantage? Can you explain how countries determine the number of units and prices that will be exchanged between two countries?
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