Pairs of Red Socks per Pairs of White Socks per Worker per Hour Worker per Hour Boston 3 3 Chicago 2 1

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Q: Pairs of Red Socks per Worker per Hour Pairs of White Socks per Worker per Hour Boston 5 2 Chicago 4…

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.