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The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same amount of that good. 1) has an absolute advantage in the production of that good. 2) has an artificial advantage in the production of that good. 3) has a comparative advantage in the production of that good. 4) has a low opportunity cost of producing that good, relative to the opportunity costs of other producers.
Sagot :
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