Answered step by step
Verified Expert Solution
Question
1 Approved Answer
One of the United States' exports is education with an abundance of students coming from other countries to study in the United States due to
One of the United States' exports is education with an abundance of students coming from other countries to study in the United States due to generous research funding and skilled professors. Which of these three factors shape their comparative advantage? importing inputs that are relatively scarce and exporting products that are relatively abundant the advantage of using relatively abundant low-wage workers to gain comparative advantage unique skills, production methods, or expertise that can lower costs of production the economies of scale of large-size production that brings so much bargaining power and further lowers input costs
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started