Marshall and Edgeworth introduced a geometrical device to explain the gains from trade which is known as
A)Indifference cur
B)Offer curve
C)Isoquant
D)Demand curve

Question

Quizplus · Accepted Answer

Marshall and Edgeworth introduced the concept of the offer curve as a geometrical device to explain the gains from trade. The offer curve (or reciprocal demand curve) represents the quantities of one good a country is willing to export for each quantity of another good it imports, illustrating how countries can benefit from trading with each other based on their respective comparative advantages.

Marshall and Edgeworth Introduced a Geometrical Device to Explain the Gains