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Which of the following best describes comparative advantage? Group of answer choices If a state can produce the highest volume of wool in the world,
Which of the following best describes comparative advantage? Group of answer choices If a state can produce the highest volume of wool in the world, that state should produce wool regardless of opportunity cost. If a state can produce equal amounts of wine and wool, that state should produce whichever good is more expensive and desirable in the global economy. If a state can produce wine at a lower opportunity cost than wool, that state should produce wine even if it could produce more wool than any other state in the world. States should avoid producing wine, as wool is a more valuable resource to the economy
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