Which describes a way in which consumers most likely benefit from producers’ absolute advantage? a. consumers’ opportunity costs decrease. b. prices decrease as a result of increased production efficiencies. c. producers always use savings to improve products. d. consumers can find a given product in more places. b prices decrease as a result of increased production efficiencies.

The correct answer is B.

When producers develop an absolute advantage, they are able to manufacture products or services more efficiently that the competitors. This means they are able to produce a larger quantity of output with the same amount of inputs than the competitors, or the same level of output with fewer inputs.

When a production process becomes more efficient, there is a cost reduction and manufacturers are able to decrease the market prices of the products and, in consequence, to increase their sales and profits. Hence. due to the price reduction, competitiveness constitutes a benefit for consumers too, as they can purchase the same products at a cheaper price.  

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