If a nation has the lowest opportunity cost of producing a good, that nation has a(n)________ in the production of that good.
A)comparative advantage
B)absolute advantage
C)comparative advantage and an absolute advantage
D)absolute advantage and possibly a comparative advantage

Question

Quizplus · Accepted Answer

Comparative advantage means having a lower opportunity cost. Absolute advantage means being able to produce more in a given time period.

If a Nation Has the Lowest Opportunity Cost of Producing