CasandRAWR
Country A has a lower opportunity cost for producing televisions.
Wiki User
∙ 7y agoHaven
When the opportunity cost of its production is lower
Country A has a lower opportunity cost for producing televisions
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
When they can produce it at a lower opportunity cost than other countries.
When it gives up less than others to engage in a particular type of production
Country A has a lower opportunity cost for producing televisions
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
When the opportunity cost of its production is lower.
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
When it gives up less than others to engage in a particular type of production
When they can produce it at a lower opportunity cost than other countries.