Question

What should a country that wants to increase its comparative advantage when trading with another country try to do

Answer 1

Comparative advantage is the profit when the goods are produced at less cost. To increase comparative advantage the opportunity cost must be reduced.

What are opportunity cost and comparative advantage?

Opportunity cost is the loss of the potential value and the benefit when an alternative resulting in the harm is chosen over another activity that should have profited.

The comparative advantage is the capacity that the goods can be produced at less cost than the other activities so that it becomes profitable.

Therefore, by lowering the opportunity cost the comparative advantage can be increased.

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