How does trade due to comparative advantage differ from trade due to expanded markets?
- OiyLv 611 months ago
Tade based on a comparative advantage means a country gives up the other production of the other good for its advantage good. Then it exports and imports as a trade. The market expansion means the industry has an economies of scale. It expands the market to reduce the long-run average cost per unit.
- 11 months ago
I was feeling better and stuff