Absolute advantage is
A) the ability to produce more output from given inputs than another producer can.
B) the ability to produce a good at a lower opportunity cost than other producers.
C) is always a relative concept.
D) the ability to produce all goods at lower costs than anyone else can.

Question

Quizplus · Accepted Answer

Absolute advantage refers to the ability to produce more output from given inputs than another producer can. It is a measurement of productivity and efficiency and is not dependent on opportunity cost.

Absolute Advantage Is