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What are the gains from International Trade ? Explain the significance of comparative advantage in determining these gains. Give an example of comparative advantage in

  1. What are the gains from International Trade? Explain the significance of comparative advantage in determining these gains. Give an example of comparative advantage in the trade between the U.S. and Mexico.
  2. Discuss the pros and cons of imposing a minimum wage. Using supply and demand analysis, identify the winners and losers under such a policy. Use the restaurant industry as your example.

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