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Suppose that the country of Atlantis chose to isolate itself from the rest of the world. Its ruler proclaimed that Atlantis should become self-sufficient and
Suppose that the country of Atlantis chose to isolate itself from the rest of the world. Its ruler proclaimed that Atlantis should become self-sufficient and so would not engage in foreign trade. From an economic perspective, when would this idea make sense?
a. .never, as long as Atlantis had an absolute advantage in at least half the goods traded b.never, as long as Atlantis had a comparative advantage in any good c.if Atlantis had an absolute advantage in all goods. d.if Atlantis had no absolute advantages in any good.
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