AnswersOC27 Economics-2102310-Sem-MeadowsProfitQuestion 13
13
AssignmentMultiple Choice

Profit

Question 13 • (OC27) Economics-2102310-Sem-Meadows

What is the difference between comparative advantage and absolute advantage?

Answer
A
Comparative advantage measures opportunity cost and absolute advantage measures efficiency.
B
Absolute advantage measures opportunity cost and comparative advantage measures production cost.
C
Comparative advantage measures sale price and absolute advantage measures production cost.
D
Absolute advantage measures sale price and absolute advantage measures production cost.
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