Comparative advantage in producing a good

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Reference no: EM13684316

A country has a comparative advantage in producing a good if it can produce that good:

1. At a higher opportunity cost than another country can.

2. At a lower opportunity cost than another country can.

3. Using more resources than the production of that good requires in another country.

4. Using resources that are less abundant in that country than they are in another country.

Reference no: EM13684316

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