Absolute advantage in the production of two goods

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Reference no: EM131009623

When Mik has an absolute advantage in the production of two goods over Tommy, Mik

is more productive in producing both goods than Tommy.

is less productive than Tommy.

always has a comparative advantage over Tommy in the production of both goods.

cannot gain from trade with Tommy.

is better off if he does not engage in specialization and trade with Tommy.

Reference no: EM131009623

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