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A nation is deciding whether to license mining rights to a foreign entity. If the mining rights are licensed, the nation will be giving up
A nation is deciding whether to license mining rights to a foreign entity. If the mining rights are licensed, the nation will be giving up access to some of its most important natural resources. On the other hand, the revenues from the mining rights will provide much-needed funds for economic development. This trade-off is an example of what concept? a. absolute advantage b. balance of trade c. opportunity cost d. comparative advantage
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