When a Producer Has an Absolute Advantage at Producing a Good

question 40

Multiple Choice

When a producer has an absolute advantage at producing a good, it means the producer:

• A) can produce more of that good than others with the same amount of resources.
• B) has the ability to produce a good or service at a lower opportunity cost than others.
• C) has no reason to trade with others.
• D) is less efficient than other producers.

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Definitions:

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