According to the chart, which country has an absolute advantage over the other countries in oil production?A. BrazilB. MexicoC.
ArgentinaD. United States
1 answer:
Answer:
D. United sates
Explanation:
Attach is the missing chart in the question.
Absolute advantage is a concept used to show one producer´ s or entity´s advantage over other in producing similar type of goods at lesser cost or producing more unit of goods at same cost. Which give advantage to one over others. In international trade trade, it is used to show which nation has absolute advantage over other nations.
In the Chart given, we can see United states is able to produce one unit of oil at 6 hours, however others are taking more than 6 hours to produce same unit of oil. Which give absolute advantge to United states over other oil producing nation in the chart.
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