Question
What distinguishes comparative advantage from absolute advantage in production?(1 point)
Responses
A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's.
A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's.
A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.
A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's.
Responses
A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's.
A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's.
A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.
A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's.
Answers
GPT-4o mini
The correct response is:
**A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's.**
Comparative advantage refers to the ability of a country to produce a good at a lower opportunity cost compared to another country. In contrast, absolute advantage refers to the ability of a country to produce more of a good with the same amount of resources or to produce the same amount of a good using fewer resources than another country.
**A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's.**
Comparative advantage refers to the ability of a country to produce a good at a lower opportunity cost compared to another country. In contrast, absolute advantage refers to the ability of a country to produce more of a good with the same amount of resources or to produce the same amount of a good using fewer resources than another country.