select the correct answer.\nwhat is absolute advantage?\na. having a lower opportunity cost to produce goods…

select the correct answer.\nwhat is absolute advantage?\na. having a lower opportunity cost to produce goods than other firms or nations\nb. having a lower cost of production than other firms or nations\nc. having more available resources for producing a good than other nations\nd. having fewer or no trade barriers for international trade than other nations

select the correct answer.\nwhat is absolute advantage?\na. having a lower opportunity cost to produce goods than other firms or nations\nb. having a lower cost of production than other firms or nations\nc. having more available resources for producing a good than other nations\nd. having fewer or no trade barriers for international trade than other nations

Answer

Answer:

B. having a lower cost of production than other firms or nations

Brief Explanations:

Absolute advantage is when a firm or nation can produce a good at a lower cost. Option A is comparative advantage (lower opportunity cost). Option C (more resources) doesn't define absolute advantage. Option D (trade barriers) is unrelated. So, B is correct.