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Absolute or comparative advantage

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Reference no: EM132866022

The table below shows the amount of inputs needed for a worker in Germany and France to make one ton of cloth and one ton of wheat. Use this example and the calculation to illustrate the benefits from trade for each of these two nations. Do both nations benefit from trade? What are benefits from doing trade for each of them and for the two nations jointly? Which of the two principles - Absolute or Comparative Advantage, is applicable to your analysis?

Cloth Wheat
France 30 26
Germany 10 20

Reference no: EM132866022

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