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8 May, 23:36

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

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  1. 8 May, 23:46
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    Absolute advantage refers to the capabilities of an entity to produce more goods than its competitors by using the same amount of resource

    to utilize absolute advantage in 2 steps, that would be:

    1. Utilize local Resource that does not exist anywhere else

    2. Produce more Goods using that resource
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