9) how do comparative advantage and absolute advantage differ?

Explain how absolute advantage and comparative advantage differ. Absolute advantage is the ability to produce a good using fewer inputs than another producer, while comparative advantage is the ability to produce a good at a lower opportunity cost than another producer (reflecting the relative opportunity cost).

answer: in 1900, there were no "workplace safety laws"!

explanation: at the beginning of this century, workers in the united states faced remarkably high health and safety risks on the job.

a century ago in 1900 about three hundred out of every one hundred thousand miners were killed on the job each year.

[industria] developments occurred within a legal and regulatory climate that diminished employer’s interest in safety. as a result, americans developed production methods that were both highly productive and often very dangerous.