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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

Give an example in which one person has an absolute advantage in doing something but another person has a comparative advantage.

To determine
Example for absolute and comparative advantage.

Explanation

Take the example of Robinson Crusoe, Crusoe can gather 10 coconuts per hour or catch 1 fish in an hour. On the other hand, for his friend Friday, he can gather 30 coconuts per hour or catch 2 fishes per hour...

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