Why is it important that the country or region with the lower opportunity cost produce the good?

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Why is it important that the country or region with the lower opportunity cost produce the good? How would you use the concept of comparative advantage to argue for reducing restrictions on trade between countries?

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...
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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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