YSGabino7358 YSGabino7358
  • 17-06-2018
  • Business
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When one nation can produce a product at lower cost relative to another nation, it is said to have?

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LearnGrow
LearnGrow LearnGrow
  • 26-06-2018
When one nation can produce a product at lower cost relative to another nation, it is said to absolute advantage.
One example is the following: Colombia produces coffee with less labor and land than any other country which means that Columbia has an absolute advantage in coffee production.
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