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23 March, 15:28

What are the two steps a producer can take to gain an absolute advantage?

Produce more goods.

Use high-quality resources.

Produce more expensive goods.

Use fewer resources.

Produce high-quality goods.

Use local resources.

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Answers (2)
  1. 23 March, 15:49
    0
    The market conditions in which the producer competes under are extremely defining when attempting to gain an absolute advantage. In general terms, to produce using local resources will result in less expenses spent during the production stage; to use fewer resources would also probably result in reducing the expenses in this stage; the resulting money (from having saved in the production stage) could be invested in producing more goods, if the producer is struggling with the amount of product avaliable. However, if their competitors offer a higher quality poduct, this money could be spent in compensating this breach by using high-quality resources or simply producing highe-quality goods.
  2. 23 March, 18:18
    0
    i think the answer is d and a
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