Question

what is the difference between absolute advantage and comparative advantage?(1 point) responses absolute advantage is how much of a product can be made; comparative advantage is how much of a product can be made at a lower cost. absolute advantage is how much of a product can be made; comparative advantage is how much of a product can be made at a lower cost. comparative advantage is how much of a product can be made; absolute advantage is how much of a product can be made at a lower cost. comparative advantage is how much of a product can be made; absolute advantage is how much of a product can be made at a lower cost. absolute advantage is how much a product sells for; comparative advantage is where the product is traded. absolute advantage is how much a product sells for; comparative advantage is where the product is traded. comparative advantage is how much a product sells for; absolute advantage is where the product is traded.

Answer 1

The correct answer is:

Absolute advantage is how much of a product can be made; comparative advantage is how much of a product can be made at a lower cost.