If a nation has the lowest opportunity cost of producing a good, that nation has a(m in the production of that good. a- comparative advantage b- absolute advantage C comparative advantage and an absolute advantage d- absolute advantage and possibly a comparative advantage

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter17: International Trade
Section: Chapter Questions
Problem 1.2P
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1- If a nation has the lowest opportunity cost of producing a good, that nation has a(n)
in the production of that good.
a- comparative advantage
b- absolute advantage
c- comparative advantage and an absolute advantage
d- absolute advantage and possibly a comparative advantage
Transcribed Image Text:1- If a nation has the lowest opportunity cost of producing a good, that nation has a(n) in the production of that good. a- comparative advantage b- absolute advantage c- comparative advantage and an absolute advantage d- absolute advantage and possibly a comparative advantage
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