Explain how are gains from trade shared among the parties

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Reference no: EM1353530

The principle of comparative advantage does not provide answers to certain questions. One of those questions is as follows:
Answer

A. Do specialization and trade benefit more than one party to a trade?

B. Is it absolute advantage or comparative advantage that really matters?

C. Explain how are the gains from trade shared among the parties to a trade?

D. Is it possible for specialization and trade to increase total output of traded goods.

E. do opportunity costs pay a role in people's decisions to specialize in certain activities?

Reference no: EM1353530

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