The ability to produce at a lower opportunity cost than someone else is referred to as:

Question

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The ability to produce at a lower opportunity cost than someone else is known as comparative advantage, which means the ability to produce a good or service at a lower opportunity cost than another producer. It is a concept that describes the economic gains that can arise from specialization in production and trade. Absolute advantage refers to the ability to produce a good using fewer resources than another producer, while the other options (C, D, and E) are not relevant or accurate.

The Ability to Produce at a Lower Opportunity Cost Than