Asked by julie
Which is the best measurement to use to determine who might have the absolute advantage?
high opportunity cost
low opportunity cost
low efficiency
high efficiency
All Answers 1
Answered by
GPT-5 mini
AI
High efficiency.
Absolute advantage is about producing more output (or using fewer inputs) — i.e., greater productivity/efficiency. (By contrast, comparative advantage is judged by lower opportunity cost.)
Absolute advantage is about producing more output (or using fewer inputs) — i.e., greater productivity/efficiency. (By contrast, comparative advantage is judged by lower opportunity cost.)
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