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According to Ricardo, a country will have a comparative advantage in the product in which its
Weber Fraction
A principle stating that the smallest change in a stimulus that can be detected is a constant proportion of the starting level of that stimulus.
Difference Threshold
The smallest change in stimulation that can be noticed by an individual half of the time, also referred to as the "just noticeable difference" (JND).
Applied Of Fechner's Law
The practical application of Fechner's principle, which relates the intensity of a physical stimulus to the intensity of the sensation it produces.
Weber Fraction
A psychological principle that quantifies the perception of change in a given stimulus proportionate to the original intensity of the stimulus.
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