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Wages are higher in Country X than in Country Y. If the countries decide to trade, then who will benefit? Only the country that can
Wages are higher in Country X than in Country Y. If the countries decide to trade, then who will benefit?
Only the country that can produce the product at a lower opportunity cost will benefit. |
Both countries can benefit regardless of the products traded. |
Only the country that can produce the product more efficiently will benefit. |
Neither country can benefit unless one knows the product that is traded. |
Both countries will benefit, but only if a trade agreement for specific products is made by their respective governments. |
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