Comparative advantage
A)is also known as relative efficiency.
B)can lead to trade even in the face of absolute efficiency.
C)exists when one party can produce a good or service at a lower opportunity cost than another party.
D)all of the above

Question

Quizplus · Accepted Answer

Comparative advantage refers to the concept that a party can produce a good or service at a lower opportunity cost than another party, which can lead to trade even if one party is not absolutely efficient. Therefore, all of the above options are correct.

Comparative Advantage