If a person can earn $70,000 as an accountant,$60,000 as a chef,$20,000 as a mechanic,and nothing as an opera singer,he or she has a comparative advantage in

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The concept of comparative advantage states that a person or country should specialize in producing the good or service in which they have a lower opportunity cost. Opportunity cost is the value of the next best alternative that must be given up in order to pursue a certain action. In this case, the person can earn the most as an accountant ($70,000) compared to the other occupations. Therefore, they have a comparative advantage in accounting.

If a Person Can Earn $70,000 as an Accountant,$60,000 as a Chef,$20,000