If country A has a comparative advantage in the production of good X over country B, then: _______________

a. country A should not trade with country B.
b. the domestic opportunity cost of producing X in country A is higher than in country B.
c. the domestic opportunity cost of producing X in country A is lower than in country B.
d. the domestic opportunity cost of producing X in country A is higher or lower than in country B.

Question

06-12-2021
Business

Answered

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If country A has a comparative advantage in the production of good X over country B, then: _______________

a. country A should not trade with country B.
b. the domestic opportunity cost of producing X in country A is higher than in country B.
c. the domestic opportunity cost of producing X in country A is lower than in country B.
d. the domestic opportunity cost of producing X in country A is higher or lower than in country B.

Sagot :

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Baraqidn Baraqidn · Answer 1 · 2021-12-09T07:41:59-05:00

Considering the situation described above, if country A has a comparative advantage in producing good X over country B, then: the domestic opportunity cost of producing X in country A is lower than in country B.

What is Opportunity Cost?

Opportunity cost is often used in economics to describe the profit lost when one choice or option is taken over another.

What is Comparative Advantage?

Comparative Advantage is the term used to describe the economy's capacity to produce a specific good or service at a lower opportunity cost than its trading competitors.

Therefore, given that country A has a comparative advantage in producing good X over country B, this equates to country A having a lower opportunity cost than country B.

Hence, in this case, it is concluded that the correct answer is option C.

Learn more about Opportunity Cost here: https://brainly.com/question/3611557

Sagot :

What is Opportunity Cost?

What is Comparative Advantage?

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