Comparative advantage means the ability to produce a good or service
A)at a lower selling price than any other producer.
B)at a lower opportunity cost than any other producer.
C)of a higher quality than any other producer.
D)at a higher profit level than any other producer.

Question

Quizplus · Accepted Answer

Comparative advantage means being able to produce a good or service at a lower opportunity cost than other producers. It is not necessarily related to selling price, quality or profit level.

Comparative Advantage Means the Ability to Produce a Good or Service