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When can two countries gain from trading two goods?   when the first country can only produce the first good and the second country can only produce the second good             when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost             when the first country is better at producing both goods and the second country is worse at producing both goods Two countries could gain from trading two goods under all of the above conditions

When can two countries gain from trading two goods?   when the first country can only produce the first good and the second country can only produce the second good             when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost             when the first country is better at producing both goods and the second country is worse at producing both goods Two countries could gain from trading two goods under all of the above conditions

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 2SCQ: Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40...
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When can two countries gain from trading two goods?

 

when the first country can only produce the first good and the second country can only produce the second good            

when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost            

when the first country is better at producing both goods and the second country is worse at producing both goods

Two countries could gain from trading two goods under all of the above conditions.

 

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