Suppose that Switzerland can produce either 18 tons of chocolate or 9 tons of biscuit on a year while Norway can produce either 16 tons of chocolate or 4 tons of biscuits in a year. Which country has the absolute advantage
Expert's answer
Absolute advantage means the uncontested superiority of a person, a business or a country to produce a particular good better.
Switzerland has absolute advantage since it produces more tons of chocolate and biscuits than Norway.
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot