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What is the difference between absolute and comparative advantage?
Comparative advantage absolute advantage comparative advantages
Questioner：Ethan Rivera 2023-04-08 14:09:30
The most authoritative answer in 2024
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Olivia Phillips——Studied at Princeton University, Lives in Princeton, NJ
Comparative advantage refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another. Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages.read more >>+119962023-04-16 14:09:30
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