Rice Gadget US 14 Thailand 16 Absolute advantage: Determine which country has the absolute advantage for Rice and Gadget a. b. Comparative advantage: Determine what products that should be produced for each country

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Q: 5. A) With the following data decide which country has comparative advantage for which good. Show…

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Comparative Advantage and Absolute Advantage Analysis

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