In an International Context,comparative Advantage and Competitive Advantage Are Identical

question 12

True/False

In an international context,comparative advantage and competitive advantage are identical concepts.

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Definitions:

Workers

Individuals engaged in any form of economic activity to earn a wage or salary.

Wage

Compensation received by employees for their labor or services, often expressed in terms of hourly, daily, or annual earnings.

Marginal Product

The additional output that is produced as a result of using one more unit of a particular input, such as labor or capital, while keeping other inputs constant.

Wage

The compensation paid to an employee for their labor, usually expressed as an hourly, daily, or weekly rate.