The producer that requires a smaller quantity of inputs to produce a certain amo

Question

The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same amount of that good, Question 24 options: 1) has an absolute advantage in the production of that good. 2) has an artificial advantage in the production of that good. 3) has a comparative advantage in the production of that good. 4) has a low opportunity cost of producing that good, relative to the opportunity costs of other producers.

Explanation / Answer

has an absolute advantage in the production of that good.

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