Question

A country is said to have absolute advantage of trade if it can produce at a lower opportunity cost. produce at a higer opportunity cost. produce less goods or services as compared to other countries. produce more goods or services as compared to other countries.

Name: a country is said to have absolute advantage of trade if it can produce at a lower opportunity cost produce at a higer opportunity cost produce less goods or services as compared to other countries pr
Uploaded: 2023-09-11T13:24:02-08:00
Duration: 2 min 31 s
Channel: Aparna Shakti
Description: a country is said to have absolute advantage of trade if it can produce at a lower opportunity cost produce at a higer opportunity cost produce less goods or services as compared to other countries pr

          A country is said to have absolute advantage of trade if it can

produce at a lower opportunity cost.

produce at a higer opportunity cost.

produce less goods or services as compared to other countries.

produce more goods or services as compared to other countries.

Added by Wqxel N.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Aparna Shakti

09/11/2023

Step 1

So, the last option "produce more goods or services as compared to other countries" seems to be the most accurate. Secondly, opportunity cost refers to the potential benefit an individual, investor, or business misses out on when choosing one alternative over Show more…

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A country is said to have absolute advantage of trade if it can produce at a lower opportunity cost. produce at a higer opportunity cost. produce less goods or services as compared to other countries. produce more goods or services as compared to other countries.