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1. The theory of comparative advantage is generally robust even if production possibilities are described by a concave or convex frontier rather than a linear frontier. As long as opportunity costs differ between parties, there is potential to increase production through specialization and trade. 2. However, the theory may not apply in a context of sequential market integration, where a new trading partner enters an existing trade agreement. This could motivate one party to drop its original partner and r

Author

Nickesh Shah

Language

EN