Which of the following is NOT a characteristic of comparative advantage?
A) It is based on the opportunity cost of producing a good or service.
B)...
Which of the following is NOT a characteristic of comparative advantage?
A) It is based on the opportunity cost of producing a good or service. B) It allows countries to specialize in the production of goods and services in which they have a lower opportunity cost. C) It implies that a country has greater innovation in a product compared to another country. D) It implies that a product has a lower opportunity cost compared to another product in the same country. E) It is a key concept in international trade. A) It is based on the opportunity cost of producing a good or service. B) It allows countries to specialize in the production of goods and services in which they have a lower opportunity cost. C) It implies that a country has greater innovation in a product compared to another country. D) It implies that a product has a lower opportunity cost compared to another product in the same country. E) It is a key concept in international trade.
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