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Cataloged Resource Summary

 

Title

Comparative Advantage

Author

Ted Black

Categories

Production and Firm Behavior
International Economics

Type

Interactive Tutorial

Description

The linear production possibilities frontier is shown to be a restraint/constraint and, it explains scarcity and quantitatively defines opportunity cost. The model assumes there are two goods, a fixed resource endowment and a known level of technological expertise in production.

URL

http://nova.umuc.edu/~black/compad000.html

Home URL

http://nova.umuc.edu/~black/pageg.html
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