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An economy is said to have a comparative advantage in the production of one good if it:

1. can produce more of all goods than another economy.

2. can produce less of all goods than another economy.

3. has the lowest opportunity cost for producing a particular good.

4. has the highest opportunity cost for producing a particular good.

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Sonal Bahl
Sonal BahlLv10
5 Nov 2020

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