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comparative advantage

Nation has a comparative advantage in the production of X, this means that the nation
a. cannot benefit by producing and trading this product
b. must give up less of other goods than other nations in producing a unit of X
c. has a production possibilities curve identical to those of other nations
d. is not subject to increasing opportunity costs

Solution Summary

Nation has a comparative advantage in the production of X, this means that the nation
a. cannot benefit by producing and trading this product
b. must give up less of other goods than other nations in producing a unit of X
c. has a production possibilities curve identical to those of other nations
d. is not subject to increasing opportunity costs

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