If a vintner has a comparative advantage in producing wine,
A) he can produce more wine using the same resources than other vintners.
B) wine is the only product he can produce.
C) he can produce wine at a lower opportunity cost than other vintners.
D) he also has an absolute advantage in producing wine.

Question

Quizplus · Accepted Answer

Comparative advantage means being able to produce a good at a lower opportunity cost than others, not necessarily producing more of it or having an absolute advantage.

If a Vintner Has a Comparative Advantage in Producing Wine