The nation with the lowest cost of production has: a. a comparative advantage b. an absolute advantage
Question:
The nation with the lowest cost of production has:
a. a comparative advantage
b. an absolute advantage
c. an unfair advantage
d. a competitive advantage
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Step by Step Answer:
The answer is a a comparative advantage Heres why Comparative advantage focuses on the relative effi...View the full answer
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Related Book For 
Principles Of Agricultural Economics
ISBN: 9780415540704
1st Edition
Authors: Andrew Barkley, Paul W. Barkley
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