If the opportunity cost for producing a specific good is lower for one producer than another, the former producer has a comparative advantage for producing the good.
Comparative advantage refers to the ability of an economy to produce a specific good or service at a lower opportunity cost in comparison to its other trading partners. Comparative advantage is used to describe why enterprises, countries, or individuals can benefit from trade. As per the given case when a producer produces a certain good at a lower opportunity cost in comparison to its competitor, the producer has a comparative advantage in the production of the good.
"
Complete question:
if the _______cost for producing a particular good is lower for one producer than another, the former producer has _______ for producing the good.
opportunity ; comparative advantage
opportunity ; absolute advantage
economic ; comparative advantage
marginal ; absolute advantage
"
You can learn more about comparative advantage at
https://brainly.com/question/13236978
#SPJ4
