Exam (elaborations)
ECON 2110 - Clemson: Exam 1 | Questions and answers with 100% correct solutions | Graded A+
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Absolute Advantage The ability to produce a good using fewer inputs than another producer. Comparative Advantage The ability to produce a good at a lower opportunity cost than another producer. Possible It is ( possible/impossible ) for a country to have an absolute advantage in both goods. Imp...
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