Principles of Microeconomics - Chapter 3: The Gains From Trade

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Farmer and Rancher 3:18 Drawing the Farmer and Rancher's PPF 9:52 The Rancher's plan 17:07 The outcome of the plan 21:22 Absolute advantage vs comparative advantage 28:41 Calculating the opportunity cost 33:28 The slope of the PPF represents the opportunity cost of the good on the horizontal axis 36:12 Making the opportunity cost table 40:10 The range of prices at which gains from trade exist 45:04 Another numerical problem 51:55

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