List and explain each of the stages of economic integration, Microeconomics

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List and explain each of the stages of economic integration

Problem

1. David Ricardo showed that the gains from trade still accrue to all trading partners even when a country has no absolute advantage whatsoever. Using appropriate numerical examples, demonstrate how countries are able to gain from trade even when they don't have absolute advantage.

2. List and explain each of the stages of economic integration.

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Microeconomics: List and explain each of the stages of economic integration

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