Question

Sample response:Each employee has an absolute and comparative advantage in a category of work. Sasha has an absolute and comparative advantage when doing computer design-she is more efficient, and she is not giving up much of an opportunity cost. Maurice has an absolute and comparative advantage when doing logo design, for the same reasons.

Which of the following concepts were mentioned in your answer? Check all that apply.

absolute advantage
opportunity cost
comparative advantag

Answer 1

absolute advantage — ✓
opportunity cost — ✓
comparative advantag — ✓