colombia produces coffee with less labor and land than any other country; it therefore necessarily has: a…
colombia produces coffee with less labor and land than any other country; it therefore necessarily has: a comparative advantage in coffee production. both a comparative and absolute advantage in coffee production. an absolute advantage and comparative disadvantage in coffee production. an absolute advantage in coffee production
Answer
Brief Explanations:
Absolute advantage means producing a good with fewer resources. Since Colombia uses less labor and land for coffee production than any other country, it has an absolute - advantage. Comparative advantage is about lower opportunity - cost, and we have no information about opportunity - costs here.
Answer:
D. an absolute advantage in coffee production