Question: The difference between absolute and comparative advantage is that: Group of answer choices absolute advantage refers to input cost, while comparative advantage refers to opportunity

The difference between absolute and comparative advantage is that:

Group of answer choices

absolute advantage refers to input cost, while comparative advantage refers to opportunity cost.

absolute advantage refers to opportunity cost, while comparative advantage refers to input cost.

absolute advantage refers to individuals, and comparative advantage refers to countries.

absolute advantage refers to countries, and comparative advantage refers to individuals.

absolute advantage is applicable to intranational trade, while comparative advantage applies to international trade.

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