1.When people focus on their comparative advantage and then trade for other things, they: a.improve their standard of living or increase their leisure time. b.increase the time they spend working and reduce the variety in their consumption. c. have a lower standard of living than if they focused on their absolute advantage. d. focus their consumption on just a few things

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Comparative Advantage and Absolute Advantage Analysis

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