Which is the best measurement to use to determine who might have the absolute advantage? high opportunity cost low opportunity cost low efficiency high efficiency
Which Is The Best Measurement To Use To Determine Who Might Have The Absolute Advantage? High Opportunity Cost Low Opportunity Cost Low Efficiency High Efficiency
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Which Is The Best Measurement To Use To Determine Who Might Have The Absolute Advantage? High Opportunity Cost Low Opportunity Cost Low Efficiency High Efficiency. Which is the best measurement to use to determine who might have the absolute advantage? The absolute advantage is determined by comparing the opportunity cost of producing a good or service between two entities.
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The lower the opportunity cost, the greater the absolute advantage. Which best describes how producers benefit from specialization? The producer or country with the highest efficiency or the lowest opportunity.
Which Is The Best Measurement To Use To Determine Who Might Have The Absolute Advantage?
A person or worker who. Which is the best measurement to use to determine who might have the absolute advantage? The producer or country with the highest efficiency or the lowest opportunity.
The Absolute Advantage Is Determined By Comparing The Opportunity Cost Of Producing A Good Or Service Between Two Entities.
To determine who might have an absolute advantage, the best measurement is to look for a high efficiency in production rather than opportunity cost. Which best describes how producers benefit from specialization? The best way to assess which producer has an absolute advantage in production is to evaluate its level of efficiency.
Explanation Absolute Advantage Refers To The Ability Of A Party To Produce A Greater Quantity Of A Good, Product, Or Service Than Competitors, Using The Same Amount Of Resources.
The best measurement to determine absolute advantage is high efficiency, which is based on the amount of goods produced in a unit of time. This is because high efficiency directly correlates with the ability to produce more. Producers are limited to a.
The Lower The Opportunity Cost, The Greater The Absolute Advantage.
Explanation the best measurement to determine who might have the absolute advantage is high efficiency.