In economic theory, an absolute advantage is defined as

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    a cost advantage Country 1 has when it can produce Good X at a higher opportunity cost but lower absolute cost than Country 2.
     a cost advantage Country 1 has when it can produce Good X at a lower opportunity cost, that is by giving up a lower quantity of Good Y, than Country 2.
     the first mover advantage a country has when it establishes trade patterns and strong trade relationships before other countries.
     a cost advantage Country 1 has when it can produce Good X with fewer inputs or with lower inputs costs than can Country 2.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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a cost advantage Country 1 has when it can produce Good X with fewer inputs or with lower inputs costs than can Country 2.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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