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Seinfeld Economics: The Statue

by Linda Ghent

Gains from exchange refer to the net benefits to agents from voluntary trading with each other.

Comparative advantage is the ability of a producer to produce a good at a lower opportunity cost than other producers.

Absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce more of a good or service than competitors, using the same amount of resources.

 

Seinfeld: The Statue

Jerry's maid comes. Jerry feels guilty for not cleaning his own place. He could, but he chooses not to. The maid has a comparative advantage and may even have an absolute advantage.

from Seinfeld, Season 2 (1991)
Creator: Larry David & Jerry Seinfeld
Posted by Linda Ghent
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