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Figure 3-4 -Refer to Figure 3-4.If Perry and Jordan Each Spends All

Question 110

Multiple Choice

Figure 3-4
Figure 3-4 -Refer to Figure 3-4.If Perry and Jordan each spends all of his/her time producing the good in which s/he has a comparative advantage and trade takes place at a price of 1 novel for 7 poems,then A) Perry and Jordan will both gain from this trade. B) Perry will gain from this trade, but Jordan will not. C) Jordan will gain from this trade, but Perry will not. D) neither Perry nor Jordan will gain from this trade.
-Refer to Figure 3-4.If Perry and Jordan each spends all of his/her time producing the good in which s/he has a comparative advantage and trade takes place at a price of 1 novel for 7 poems,then


A) Perry and Jordan will both gain from this trade.
B) Perry will gain from this trade, but Jordan will not.
C) Jordan will gain from this trade, but Perry will not.
D) neither Perry nor Jordan will gain from this trade.

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