Absolute advantage and comparative advantage

Absolute advantage and comparative advantage

Lecture3UNIT LABOR COST a x wWhat is the price of TVs in terms of whiskey for Japan and Britain What does world supply look like At what traded price P will neither country supply TVs At what P will there be incomplete specialiation for Japan ie Japan produces TVs and whiskey At what P will Japan specialize in TVs and Britain in whiskey At what P will there be incomplete specialization for Britain ie Britain produces both goods At what P will both countries specialize in producin Source: Absolute advantage and comparative advantage
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