Sincere Daniel

3 May, 21:31

Country X and Country Y are the same size in terms of population, area, and capital stock. If both countries devote all of their efforts to producing widgets, Country X can produce 10 million widgets, while Country Y can produce 5 million. Based on the information given, Country X has A) a monopoly on the production of widgets. B) an absolute advantage in producing widgets. C) a comparative advantage in producing widgets. D) a lower opportunity cost in the production of widgets.

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