stion 23 of 80 tions 22 and 23 refer to the information below. The equilibrium price of T-shirs in te le maket is The market demand curve for T-shirts in a flea market is given by the equation Q = 20 - 2P and the market supply curve is given by the equation Q, = 2P - 4. O $5 O S6 O S7 O S8

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Comparative Advantage and Absolute Advantage Analysis

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