According to the concept of comparative advantage,a good should be produced in that nation where:

Question

Quizplus · Accepted Answer

The concept of comparative advantage suggests that a good should be produced in that nation where its domestic opportunity cost is the least. This means that a country should specialize in producing and exporting goods and services for which it has a lower opportunity cost than other countries, and import the goods and services for which it has a higher opportunity cost. By doing so, all countries can benefit from the gains from trade and enjoy a higher standard of living. Therefore, option C is the correct choice.

According to the Concept of Comparative Advantage,a Good Should Be