Which of the following statements best exemplifies the concept of relative advantage in international trade? A. USA can produce both wheat and textiles more efficiently than any other country. B. USA can produce wheat more efficiently than China, while China can produce textiles more efficiently than USA. c. USA can produce more wheat than China, but China can produce more textiles than USA. D. USA and China have the same level of efficiency in producing wheat and textiles.
Which of the following statements best exemplifies the concept of relative advantage in international trade? A. USA can produce both wheat and textiles more efficiently than any other country. B. USA can produce wheat more efficiently than China, while China can produce textiles more efficiently than USA. c. USA can produce more wheat than China, but China can produce more textiles than USA. D. USA and China have the same level of efficiency in producing wheat and textiles.
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Which of the following statements best exemplifies the concept of relative advantage in international trade?
A. USA can produce both wheat and textiles more efficiently than any other country.
B. USA can produce wheat more efficiently than China, while China can produce textiles more
efficiently than USA.
c. USA can produce more wheat than China, but China can produce more textiles than USA.
D. USA and China have the same level of efficiency in producing wheat and textiles.
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