A producer can provide cable service more cheaply than another producer. This is an example of absolute advantage.
A producer can produce salads while giving up fewer opportunities to make sandwiches than another producer. This is an example of comparative advantage.
A producer can create more car parts than another producer, while using the same number of resources. This is an example of absolute advantage.
A producer has comparative advantage in production if it produces at a lower opportunity cost when compared to other producers.
A producer has absolute advantage in the production of a good if it produces a larger quantity of a good when compared to other producers.
For example, producer A produces 50 cables and has an opportunity cost of 0.2. Producer B produces 100 cables and has an opportunity cost of 1. Producer A has a comparative advantage in the production of cables and producer B has an absolute advantage in the production of cables.
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Answer:
✔ absolute
A producer can provide cable service more cheaply than another producer.
✔ comparative
A producer can produce salads while giving up fewer opportunities to make sandwiches than another producer.
✔ absolute
A producer can create more car parts than another producer, while using the same number of resources.
Explanation: thats what edge says
