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24 March, 21:48

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

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  1. 24 March, 22:08
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    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.).
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