Answer (Choose 1 answer)
(17749) Refer to Table 3-4. The opportunity cost of 1 pound of potatoes for the farmer is
Table 3-4
Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate.
A. 2 hours of labor.
Labor Hours Needed to Make 1 Pound of
Meat
10
4
Pounds Produced in 40 Hours
Meat
4
10
B. 1/5 pound of meat.
Farmer
Potatoes
2
8
Potatoes
20
5
C. 5 hours of labor
Rancher
D. 5 pounds of meat.
Exit 5
