If the country can produce a good or service at a lower opportunity cost, it has a comparative advantage.
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What is comparative advantage?</h3>
- In an economic model, agents have a comparative advantage over others if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to the trade.
- Comparative advantage describes the economic reality of trade advantages for people, firms, or nations as a result of disparities in their factor endowments or technological progress.
- (The absolute advantage, comparing output per time (labor efficiency) or per quantity of raw material (monetary efficiency), is typically considered more intuitive but less accurate – productive trade is possible as long as the opportunity costs of manufacturing commodities vary between countries.)
Therefore, if the country can produce a good or service at a lower opportunity cost, it has a comparative advantage.
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Answer:
can u tell me what it is and I'll help
Answer:Hi Martina, okie anyway Im taking the test rn too I just answered Tanya, its $25
Explanation:
1 book= 50
2 books= 100
100-50=50
Then 50/2=25
Answer:
$20,700 ordinary loss
Explanation:
Based on the information given if the first Operating assets generated a gain of the amount of $38,700 while the second assets generated a loss of the amount of $59,400 after been sold out which indicate or means that Hugo should recognize the amount of $20,700 ORDINARY LOSS which is calculated as :
Ordinary loss =-$59,400+$38,700
Ordinary loss =-$20,700
Therefore As a result of these sales, Hugo should recognize:$20,700 ORDINARY LOSS
What? didnt quite understand your question.
