Absolute advantage is found by comparing different producers'

Question

a. opportunity costs.
b. locational and logistical circumstances.
c. input requirements per unit of output.
d. payments to land, labor, and capital.

Answer 1

Absolute advantage is found by comparing different producers' c. input requirements per unit of output.

Absolute advantage refers to the ability of a producer to produce more of a good or service with the same amount of resources as another producer. This concept involves looking at the efficiency of production rather than opportunity costs, which is the focus of comparative advantage.