Multiple choices 24/50
(Choose 1 answer)
(17750) Refer to Table 3-5. The opportunity cost of 1 unit of cheese for Spain is
A. 1/2 unit of bread.
B. 4 hours of labor.
C. 2 units of bread.
Next
D. 2 hours of labor.
Table 3-5
Assume that England and Spain can switch between producing cheese and producing bread a constant rate.
Labor Hours Needed to Make 1 Unit of Cheese Bread
Number of Units Produced in 40 Hours Cheese Bread
England
Spain
1
4
40
10
4
8
10
5
1
2
3
4
5
6
7
8
9
10
11
12
13
14 15
16
17
18
19
20
21
22
23
24
25 26
27
28
29 30
31
32
33
34 35
36 37 38 39 40
41
42 43
44
45
46
47 48
49
50
Eit
