Trade & Specialization
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4:13
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- 13:00
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- 1:37
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Absolute and Comparative Advantageby PlainSenseEconomics8,294 views
Are you like assuming the price to be 0.5 F per C (which is more than 1/3 F per C and less than 1 F per C) and the other price to be 1.5 C per F (which is more than 1 C per F and less than 3 C per F)? Are you assuming these prices? If that's so, then can I also choose prices like 2 C per For 2.5 C per F?
sonutulsiani 2 years ago
Even I am confused with the same thing, how do you get 1.5 from 1?
I have my LSE final exam next month, still I don't know what's all this! Please reply soon.
sonutulsiani 2 years ago
yea i had the same question as George, how did you arrive at the 0.5 and 1.5. Hope you can explain this. Thank you very much for your very helpful video
optimusprime1001 3 years ago
Dear Sir,
Thanks for the explanation, but please could you shed more light on how you got the 0.5 and 1.5 between the opportunity costs.This is not clear to me. Many thanks.
George
uwaifogeorge 3 years ago