What is the difference between absolute advantage and comparative advantage?
1. Compara...
What is the difference between absolute advantage and comparative advantage?
1. Comparative Absolute advantage is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors.
2. While comparative absolute advantage is the ability of an individual, a firm, or a country to produce more of a good or service than competitors when using the same amount of resources.
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