Question

Suppose maria and nikki can produce ballet shoes. if maria's opportunity cost of producing ballet shoes is higher than nikki's opportunity cost of producing ballet shoes, then?

Answer 1

If  Maria's opportunity cost of producing shoes is higher than nikki's opportunity cost of producing shoes, then Nikki has a comparative advantage in the production of baellet shoes.

What is meant by production?

Making something out of parts or raw materials is the act of producing something. In other words, manufacturing uses inputs to create an output that is suitable for consumption—a good or product with value for a consumer or end-user.

Production is the process of combining various immaterial inputs (plans, knowledge) with material inputs to create something that is intended for consumption (output). It is the process of producing an output, a good or service that has value and enhances people's usefulness.

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