An absolute advantage occurs when a country can maintain _____.
A)a monopoly by outlawing foreign imports
B)a monopoly by levying high taxes on imports
C)a monopoly by being the lowest-cost producer of a good or service
D)its advantage by producing a good or service more efficiently

Question

Quizplus · Accepted Answer

A country has an absolute advantage when it can produce a good or service more efficiently than other countries. This means that it can produce the good or service with fewer resources or in less time.

An Absolute Advantage Occurs When a Country Can Maintain _____