Answers MO-EconomicsComparative and Absolute Advantage

Comparative and Absolute Advantage Answers

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Absolute advantage is best defined as:

being able to make more of a product than a competitor.

being able to use fewer resources than a competitor.

being able to produce more efficiently than a competitor.

being able to create a product with a higher opportunity cost than a competitor.

Sean spent on resources per car washed.

Jake spent on resources per car washed.

has the absolute advantage because he washes cars most efficiently.

Riley

Sean

Jake

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