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kylapbow kylapbow
  • 17-05-2016
  • History
Answered

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

Verified Answer :

andriansp andriansp
  • 25-05-2016

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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