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Interdependence and the Gains from Trade
3 Interdependence and the Gains from Trade
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Table 1 The Production Opportunities of the Gardner and the Farmer
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Figure 1 The Production Possibilities Frontier (1)
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Figure 1 The Production Possibilities Frontier (2)
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Figure 2 How Trade Expands the Set of Consumption Opportunities (1)
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Figure 2 How Trade Expands the Set of Consumption Opportunities (2)
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Table 2 The Gains from Trade: A Summary
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Table 3 The Opportunity Cost of Meat and Potatoes
1 kilogram of meat 1 kilogram of potatoes Gardener 4 kg of potatoes 0.25 kg of meat Farmer 2 kg of potatoes 0.5kg of meat Copyright © Cengage Learning
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