Ricardo explained the law of comparative advantage on the basis of:
A)the labor theory of value
B)the opportunity cost theory
C)the law of diminishing returns
D)all of the above

Question

Quizplus · Accepted Answer

Ricardo's explanation of the law of comparative advantage is based on the labor theory of value, which suggests that the value of a good is determined by the amount of labor required to produce it.

Ricardo Explained the Law of Comparative Advantage on the Basis