Having a comparative advantage means a nation can
A) benefit from trade.
B) produce at a higher opportunity cost.
C) produce more of the good.
D) produce without incurring an opportunity cost.
E) produce the good at a point beyond its PPF.
A
Economics
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In a perfectly competitive market, a permanent decrease in demand initially brings a lower price, economic
A) loss, and entry into the market. B) loss, and exit from the market. C) profit, and entry into the market. D) profit, and exit from the market.
Economics
The principle of comparative advantage states that a product should be exported by
a. the country with the lowest dollar cost b. the country with the lowest labor cost c. the country with the lowest opportunity cost d. the country that has more of that product e. all of the above
Economics