(46)
(Choose 1 answer)
Table 3-5
(17750) Refer to Table 3-5. The opportunity cost of 1 unit of cheese for Spain is
A. 2 units of bread.
B. 4 hours of labor.
C. 1/2 unit of bread.
Assume that England and Spain can switch between producing cheese and producing bread at a constant rate.
Labor Hours Needed to Make 1 Unit of
Number of Units Produced in 40 Hours
Cheese
1
4
Bread
4
8
Cheese
40
10
Bread
10
5
England
Spain
D. 2 hours of labor.
