The course concept of “comparative advantage” is illustrated through several different scenarios in Chapters 5, 6, and 8 of the Rivoli text. Carefully read these chapters to identify an example in which comparative advantage is discussed in the book. Your assignment this week should include the following in (minimum) 350 words:
- In one well-formulated paragraph, citing specific passages and page numbers, summarize at least one instance in which comparative advantage is discussed in chapter 5, 6, and/or 8 of the Rivoli text.
- In another well-formulated paragraph, analyze the circumstances that allowed for the comparative advantage to emerge. Be specific and refer to the text (with page citation). Here you may want to consider international political circumstances, labor laws, cultural norms, environmental conditions, transportation factors, etc.
- In a third paragraph, discuss who benefits/gains and who is harmed or pays in this scenario. In your opinion, does this comparative advantage unfairly advantage one group over another, or does it allow everyone involved fair benefits? Be sure to support your claims with evidence from the text. Include specific passages and page numbers.
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