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Copyright © 2004 South-Western 3 3 Interdependence and the Gains from Trade

Copyright © 2004 South-Western 3 Interdependence and the Gains from Trade

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Copyright © 2004 South-Western

33Interdependence and the Gains from Trade

Table 1 The Production Opportunities of the Farmer and Rancher

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Figure 1a The Production Possibilities Frontier

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Figure 1b The Production Possibilities Frontier

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Figure 2a How Trade Expands the Set of Consumption Opportunities

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Figure 2b How Trade Expands the Set of Consumption Opportunities

Table 2 The Gains from Trade: A Summary

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Table 3 The Opportunity Cost of Meat and Potatoes

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