If a country has a cost advantage in a good over another producing country, then it is said to have what kind of advantage?Multiple choice question.FactorAbsoluteSpecializationLimited

What kind of advantage comes from a country producing a good at a lower opportunity cost than another country is able to do?Multiple choice question.AbsoluteRelativeComparativeOpportunity

advantage occurs when a country has a cost advantage in a good over another producing country.

A country has an absolute advantage in the production of a product when it:Select one:a.Has access to the raw materials needed to produce the product.b.Has the capability to produce the product within its boundaries.c.Has the largest domestic demand for the product.d.Is more efficient than any other country in producing it.Clear my choice

The theory of comparative advantage demonstrates that even if a country is less efficient than another in producing all goods, it can still benefit from trade by specializing in the production of the good in which it has:  A. The highest absolute advantage  B. The lowest opportunity cost  C. The highest total production  D. The lowest absolute cost

The theory of comparative advantage suggests that countries should specialize in producing goods or services in which they have:Question 45Answera.Lower opportunity costsb.Higher opportunity costsc.Equal opportunity costsd.No opportunity costs