What are the gains from specialization and trade?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 06:53 AM

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The gains from specialization and trade are discussed in terms of production gains and consumption gains. What do these terms mean?
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What are the gains from specialization and trade?

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From societys standpoint the total output of goods and services available for consumption i...View the full answer

Microeconomics

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