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      Question

      Comparative advantage is based on┬а

      A dollar price Correct Answer Incorrect Answer
      B labor cost Correct Answer Incorrect Answer
      C rental cost Correct Answer Incorrect Answer
      D capital cost Correct Answer Incorrect Answer
      E opportunity cost Correct Answer Incorrect Answer

      Solution

      Opportunity cost is the loss of other alternatives when one alternative is chosen. Comparative advantage theory is based on the opportunity cost theory.

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