Answered

At Westonci.ca, we connect you with the answers you need, thanks to our active and informed community. Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

In order for mutually beneficial trade to occur between two otherwise isolated nations, Multiple Choice each nation must face constant costs in the production of the good it exports. each nation must be able to produce at least one good absolutely cheaper than the other. one nation's production must be labor-intensive, while the other nation's production is capital-intensive. each nation must be able to produce at least one good relatively cheaper than the other.

Sagot :

In order for mutually beneficial trade to occur between two otherwise isolated nations, each nation must be able to produce at least one good relatively cheaper than the other.

What does comparative advantage mean?

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries. A country should specialise in the production of goods for which it has a comparative advantage. This is when trade can be mutually beneficial .

To learn more about comparative advantage, please check: https://brainly.com/question/25812820

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.