How can a nation use opportunity cost to achieve trade benefits? Group of answer choices By producing a product where it has the lowest opportunity cost and trading for products where it doesn’t have...

How can a nation use opportunity cost to achieve trade benefits?

Group of answer choices

By producing a product where it has the lowest opportunity cost and trading for products where it doesn’t have comparative advantage

By analyzing the opportunity costs of potential trading partners and then trading only with those who have the same opportunity cost for producing the same good

By improving production so that it has the lowest opportunity cost in all products

By producing a product where it has the highest opportunity cost and then trading for any product where it has the absolute advantage in production.

Jun 09, 2022

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How can a nation use opportunity cost to achieve trade benefits? Group of answer choices By producing a product where it has the lowest opportunity cost and trading for products where it doesn’t have...

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