One country has a comparative advantage over another

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Reference no: EM1321383

Q. To make the case that one country has a comparative advantage over another country in the construction of a given good or service, illustrate what must be demonstrated is that the country with a comparative advantage can manufacture the good or service under consideration at a lower opportunity cost than the country that does not have comparative advantage. By lower opportunity cost, illustrate what is meant (in this context) is that the country with comparative advantage foregoes less income by Utilizing its resources to manufacture the good or service in elucidate which it unique sizes (as opposed to an alternative good or service) in relation to the opportunity cost that would be incurred by the country that does not enjoy the comparative advantage. To make the case, therefore the opportunity costs of both countries (involved in the construction of the good or service under consideration) must be identified.

Reference no: EM1321383

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