Answered: A country is said to have an absolute…

A country is said to have an absolute advantage if they can produce the good: O at the lowest marginal cost. O using the fewest inputs. at the lowest total cost. at the lowest opportunity cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A country is said to have an absolute advantage if they can produce the good:
O at the lowest marginal cost.
O using the fewest inputs.
at the lowest total cost.
O at the lowest opportunity cost.

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