Question

A nation's comparative advantage in the production of an item is determined by __________________. Select the correct answer below: which country has already specialized in the production of the item the total and marginal costs of producing the item the opportunity cost of producing the item relative to a trading partner's opportunity cost the wage rates and other input costs

Answer 1

the opportunity cost of producing the item relative to a trading partner's opportunity cost

Step-by-step explanation:

Comparative Advantage is a term that is used in economics to describe the position in which a country has the capacity to produce commodities or services at a cheaper opportunity cost compared to a particular country.

Hence, in this case, a nation's comparative advantage in the production of an item is determined by "the opportunity cost of producing the item relative to a trading partner's opportunity cost."