If country A has an absolute advantage over country B in the production of good X, then:
A) the opportunity cost of producing X in country A is lower than in country B.
B) the opportunity cost of producing X in country A is higher than in country B.
C) good X can be produced in country A using fewer inputs than in country B.
D) good X can be produced in country B using fewer inputs than in country B.
Correct Answer:
Verified
Q52: Any _ allocation of goods and inputs
Q53: The term Pareto efficient means that there
Q54: To be efficient, a competitive equilibrium must
Q55: Exchange efficiency, input efficiency, and substitution efficiency
Q56: Q58: A general equilibrium analysis would be useful Q59: To be efficient, a competitive equilibrium must![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents