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3 percent tariff - PowerPoint PPT Presentation

Comparative and Absolute Advantage

Comparative and Absolute Advantage. How do countries decide what to produce?. Absolute Advantage-The ability to produce more of an item with the same resources. Example: Dr. Cryder can complete 10 aggregate supply and demand charts in 10 minutes. Tyler can complete 2.

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3 percent tariff - PowerPoint PPT Presentation

Comparative and Absolute Advantage