If a person has the lowest opportunity cost of producing a particular good,that person has a(n)
A) comparative advantage.
B) absolute advantage.
C) comparative and absolute advantage.
D) absolute advantage and a possible comparative advantage.
E) relative advantagE.

Question

Quizplus · Accepted Answer

If a person has the lowest opportunity cost of producing a particular good, then they have a comparative advantage in producing that good. This means that they can produce the good at a lower opportunity cost compared to others. It does not necessarily mean that they have an absolute advantage over others in producing the good.

If a Person Has the Lowest Opportunity Cost of Producing