________ occurs when a country has a monopoly on producing a product or is able to produce it at a cost well below that of all other countries.
A) Comparative advantage
B) Absolute advantage
C) Complete advantage
D) Dumping advantage

Question

Quizplus · Accepted Answer

Absolute advantage occurs when a country can produce a product at a lower cost than any other country, leading to a monopoly on production.

________ Occurs When a Country Has a Monopoly on Producing