A producer with an absolute advantage had the abliity to produce a good or service at

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Social Studies

Angel Rowland

24 October, 18:16

A producer with an absolute advantage had the abliity to produce a good or service at

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Teresa · Answer 1

Absolute advantage refers to the ability of a country to produce a good more efficiently than other countries. In other words, a country that has an absolute advantage can produce a good with lower marginal cost (fewer materials, cheaper materials, in less time, with fewer workers, with cheaper workers, etc.).