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“Economists use the term comparative advantage when describing the opportunity
cost of two producers†(Mankiw, 2004, p52). If one looks at two different countries, one may see that each country produces several of the same goods. To eliminate the cost of producing the different items the countries may compare their opportunity cost, labor laws, and cost of labor to decide on what item each country may be better at providing...
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“Economists use the term comparative advantage when describing the opportunity
cost of two producers†(Mankiw, 2004, p52). If one looks at two different countries, one may see that each country produces several of the same goods. To eliminate the cost of producing the different items the countries may compare their opportunity cost, labor laws, and cost of labor to decide on what item each country may be better at providing...
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