Question

A person who has an absolute advantage in the production of all goods will:___________

a. not have a comparative advantage in the production of any goods.
b. produce all goods at the lowest opportunity coot.
c. have a comparative advantage in the production of only some goods and not others.
d. not be able to gain from specialization and trade.
e. also have a comparative advantage in the production of all goods.

Answer 1

Option B

Step-by-step explanation:

In simple words, The absolute benefit is the ability of an person, business, region or country to generate more products or services with the similar quantities of resources per unit of time or to generate the same quantity of goods or services per unit of time using minimal errors than any other entity that manufactures the same goods or services.

A competitive advantage occurs when a nation can manufacture goods at smaller opportunity costs relative to other economies. A nation can, nevertheless, get an upper hand in all commodities. An inherent benefit occurs when a nation is actually the best (most effective) to manufacture a good or services.