Use the table below to answer the questions concerning absolute and comparative advantages.   Lumber Automobiles United States     8   8 Canada     4   2   Which country has an absolute advantage in producing lumber? Which country has an absolute advantage in producing automobiles? Which country has a comparative advantage, if any, in producing lumber?

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Q: Use the table below to answer the questions concerning absolute and comparative advantages.…

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Q: Differentiate between the following terms. Absolute advantage and comparative advantage.

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