Solved: Define both internal and external economics of scale, Microeconomics

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Define both internal and external economics of scale

Assignment:

1. Explain David Ricardo's theory of comparative advantage. How does comparative advantage differ from absolute advantage? What is the relationship between comparative advantage and gains from trade?

2. Define both internal and external economics of scale. How do economies of scale play into trade between two countries with one factors of production?

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Microeconomics: Define both internal and external economics of scale

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