8. Which of the following statements about absolute advantage is true? a. Australia has an absolute advantage

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8. Which of the following statements about absolute advantage is true?

a. Australia has an absolute advantage in the production of food while Korea has an absolute advantage in the production of electronics.

b. Korea has an absolute advantage in the production of food while Australia has an absolute advantage in the production of electronics.

c. Australia has an absolute advantage in the production of both food and electronics.

d. Korea has an absolute advantage in the production of both food and electronics.

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

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Question Posted: Nov 14, 2024 03:00 AM

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8. Which of the following statements about absolute advantage is true? a. Australia has an absolute advantage

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

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