What is absolute advantage?

A. having a lower opportunity cost to produce goods than other firms or nations

B. having a lower cost of production than other firms or nations

C. having more available resources for producing a good than other nations

D. having fewer or no trade barriers for international trade than other nations

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Madyson

28 April, 19:03

What is absolute advantage?

A. having a lower opportunity cost to produce goods than other firms or nations

B. having a lower cost of production than other firms or nations

C. having more available resources for producing a good than other nations

D. having fewer or no trade barriers for international trade than other nations

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Answers (2)

Know the Answer?

Anne Gentry · Answer 1

The answer would be C

Jakayla Ball · Answer 2

C. having more available resources for producing a good than other nations

the principle of absoluteadvantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.