What is comparative advantage?
a. the gain from selling a product for more than it costs to produce that product.
b. the gain from consuming a product whose benefit is greater than its cost.
c. the ability to produce a good or service at a lower opportunity cost than other producers.
d. the ability to produce more of a good or service than competitors using the same amount of resources.
e. the ability to use all available resources to produce output.

Option C

Explanation: In simple words, the ability of an organisation to carry out an economic activity more efficiently and at a lower opportunity cost than others is called its comparative advantage. Comparative advantage is seen as an indicator of labor efficiency or technological advancement.

For example - Countries like America and Germany are technologically advanced, therefore, the dominate the heavy machine manufacturing around the world.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.