Question

What distinguishes comparative advantage from absolute advantage in production?(1 point)

Responses

A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires more total inputs than does another country to produce the same output.

A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's.
A country has comparative advantage in production when its opportunity costs of producing a good are higher than another country's.

A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's.
A country has comparative advantage in production when its opportunity costs of producing a good are lower than another country's.

A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output.
A country has comparative advantage in production when it requires fewer total inputs than does another country to produce the same output.
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Answer 1

[AI-generated answer — Bot GPT 3.5]

A country has comparative advantage in production when it can produce a good at a lower opportunity cost than another country. This means that the country can produce the good more efficiently, therefore better utilizing its resources, compared to another country. On the other hand, absolute advantage in production refers to a country's ability to produce a good using fewer resources compared to another country. So, while absolute advantage focuses on the quantity of resources needed for production, comparative advantage focuses on the opportunity cost of producing a good.