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If the United States could produce five televisions per hour

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ECN 351 Topic 1 Discussions GCU

ECN 351 Topic 1 DQ 1

If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?

ECN 351 Topic 1 DQ 2

Discuss the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns? Justify your answer.

 

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