You have a comparative advantage if you can complete a task:
A)using more inputs than anyone else.
B)using fewer inputs than anyone else.
C)at a lower opportunity cost than anyone else.
D)at a higher opportunity cost than anyone else.

Question

Quizplus · Accepted Answer

Comparative advantage refers to the ability to produce a good or service at a lower opportunity cost than another producer. This means that you can produce a certain item at a lower cost, either in terms of time, money, or resources, than someone else. The correct answer is therefore C - having a lower opportunity cost than anyone else gives a producer a comparative advantage.

You Have a Comparative Advantage If You Can Complete a Task