Question
The fictional country of Anastialia is a small country with rich resources in minerals. In an 8 hr work day it can produce 100 pounds
The fictional country of Anastialia is a small country with rich resources in minerals. In an 8 hr work day it can produce 100 pounds of silver or 50 pounds of copper. If Anastialia decides to produce copper instead of silver it is ignoring the fact that its silver production has a(n)________ to copper.
- comparative advantage
- absolute advantage
- production advantage
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Essentials of Economics
Authors: N. Gregory Mankiw
8th edition
1337091995, 978-1337515351, 1337515353, 978-1337091992
