Use the following to answer question:
-(Figure: Comparative Advantage and the Production Possibility Frontier)Use Figure: Comparative Advantage and the Production Possibility Frontier._____ has an absolute advantage in the production of _____ and a comparative advantage in the production of _____.

Question

Use the following to answer question: 
-(Figure: Comparative Advantage and the Production Possibility Frontier)Use Figure: Comparative Advantage and the Production Possibility Frontier._____ has an absolute advantage in the production of _____ and a comparative advantage in the production of _____.

Quizplus · Accepted Answer

The United States has an absolute advantage in the production of computers if it can produce more computers than Colombia with the same amount of resources. It has a comparative advantage in the production of computers if it can produce computers at a lower opportunity cost than Colombia.

Use the Following to Answer Question