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Physics, 04.04.2020 22:45 Jasten

What is the difference between comparative advantage and absolute advantage?

Comparative advantage measures opportunity cost and absolute advantage measures efficiency.
Absolute advantage measures opportunity cost and comparative advantage measures production cost.
Comparative advantage measures sale price and absolute advantage measures production cost.
Absolute advantage measures sale price and absolute advantage measures production cost.

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What is the difference between comparative advantage and absolute advantage?

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