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What is the difference between Comparative Advantage and Absolute Advantage?
Difference between Comparative Advantage and Absolute Advantage:
Comparative advantage: it is the opportunity cost of producing the good is lower for which individual than for other people.
Absolute advantage: When he or she can do this better than other people.
Attentive: Don’t confuse about comparative advantage along with absolute advantage!
What are the basic differences between the investment curve and an investment demand curve for an economy
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The elasticity of demand in the local hardware industry is -2, while in the video market it is. Which industry has a higher markup over marginal cost (as a percentage of price)?
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