Asked by Diana Muñoz on May 14, 2024
Verified
Define comparative advantage.
Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than another entity.
- Expound and calculate the comparative advantage.
Verified Answer
EA
Eassa Al BairamiMay 20, 2024
Final Answer :
Comparative advantage means a producer can produce a good at a lower opportunity cost than another producer.
Learning Objectives
- Expound and calculate the comparative advantage.