A nation is said to have a comparative advantage when it has a:
A) larger demand for a product than does another nation.
B) larger inventory of a product to sell than does another nation.
C) lower opportunity cost of producing a product than does another nation.
D) monopoly over a product and, through that, complete control over its price.
Correct Answer:
Verified
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Q24: According to the principle of comparative advantage,
Q25: According to the principle of comparative advantage,
Q27: When a nation gives up fewer units
Q28: Comparative advantage in international trade is based
Q29: With one unit of resources each, Country
Q30: With one unit of resources each, Country
Q31: With one unit of resources each, Country
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