Country Jeans Corn     Felicidad 8 32 Bellissima 12 24 Felicidad's opportunity cost of producing 1 pair of jeans is (1/2 , 1/4, 2, 4)   of corn, and Bellissima's opportunity cost of producing 1 pair of jeans is (  1/2 , 1/4, 2, 4)  of corn. Therefore,  (FELICIDADS, BELLISSIMA)  has a comparative advantage in the production of jeans, (FELICIDADS, BELLISSIMA) and has a comparative advantage in the production of corn.   Suppose that each country

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.