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Which of the following must be true in order to engage in advantageous international trade? A.It must have an absolute advantage in producing one good
Which of the following must be true in order to engage in advantageous international trade?
- A.It must have an absolute advantage in producing one good being traded.
- B.It must be producing at a point on its production possibilities frontier.
- C.It must have a comparative advantage in producing one of the goods being traded.
- D.There must be no potential Pareto improvements available in the economy.
- E.It must be economically efficient.
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