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Two countries will have zero incentive to trade if their production possibilities curves are parallel straight lines because
One country has a comparative advantage in the production of both goods, thus providing that country with no incentive for trade.
The opportunity costs for both countries are the same.
One country has an absolute advantage in the production of both goods, thus providing that country with no incentive for trade.
An intersection of the two lines is not possible, and therefore trade equilibrium is not possible.
Arguments for public subsidies for education are based upon: The cobweb model of educational attainment is most likely to be applicable when:
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Consider a market where the market demand is given by P = 600 − 3Q and the market supply is given by P = 100 + 2Q. Suppose the government imposed a $50-per-unit tax. How much of the per-unit tax would be paid by the sellers and how much by the buyers..
The production possibilities frontier represents what?
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