Order the answer to: Bud and Larry have been…
| Question | b. If Bud and Larry donâ??t trade with each other, who is better off? Why? c. Assume that Larry and Bud operate on straight-line production possibilities curves. Fill in the following table: d. If they traded, who has the comparative advantage in fish? In berries? e. If Larry and Bud specialize in and trade the good in which they have a comparative advantage, how much of each good will be produced in an eight-hour day? What are the gains fromtrade? |
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| Subject | business-economics |
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