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5 September, 14:16

Suppose that Candonia and Sylvania agree to trade. Each country focuses its resources on producing only the good in which it has a comparative advantage. The countries decide to exchange 8 million pounds of lemons for 8 million pounds of coffee.

This ratio of goods is known as the price of trade between Candonia and Sylvania.

True or False?

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  1. 5 September, 16:17
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    I believe it is true
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