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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 23
Suppose that Tessa buys a new machine for making jackets that enables her to make 20 jackets an hour. (She can still make only 80 caps per hour.)
a. Who now has a comparative advantage in producing jackets?
b. Can Sue and Tessa still gain from trade
c. Would Sue and Tessa still be willing to trade 1 jacket for 15 capsExplain your answer.
a. Who now has a comparative advantage in producing jackets?
b. Can Sue and Tessa still gain from trade
c. Would Sue and Tessa still be willing to trade 1 jacket for 15 capsExplain your answer.
Explanation
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Verified
Tessa has got a new machine which helps ...
Macroeconomics 11th Edition by Michael Parkin
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