If a nation has a comparative advantage in the production of a good,

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  1.  it can produce that good at a lower opportunity cost than its trading partner

  2.  it can benefit by restricting imports of that good

  3.  it can produce that good using fewer resources than its trading partner.

  4.  it must be the only country with the ability to produce that good


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Posted on 23 Nov 2023, this text provides information on Microeconomics 2 in Economics (CBCS) related to Economics (CBCS). Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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