1. having an absolute advantage means being able to do something using fewer resources than other producers require(True/False)2. the elasticity of demand is greater in the long run because consumers have more time to adjust to a price change(True/False)3. the monopoly market structure is the extreme opposite of the perfect competition market structure(True/False)
having an absolute advantage means being able to do something using fewer resources than other producers require(True/False) 2.
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