If an individual has a comparative advantage in the production of a good, then this individual has the rev: 05_10_2018 Multiple Choice highest opportunity cost in the production of the good. same opportunity cost in the production of the good. lowest opportunity cost in the production of the good. greatest desire for the good.

lowest opportunity cost in the production of the good.

Explanation:

An individual has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.  

For example, country A produces 100kg of buns and 50kg of rice. Country B produces 50kg of buns and 100kg of rice.  

for country A,  

opportunity cost of producing buns = 50/100 = 0.5

opportunity cost of producing rice = 100/50 = 2

for country B,  

opportunity cost of producing buns = 50/100 = 0.5

opportunity cost of producing beans = 100/50 = 2

Country A has a comparative advantage in the production of buns and country B has a comparative advantage in the production of rice

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