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. 1/5 pound of meat.
Labor Hours Needed to Make 1 Pound of Meat Potatoes
10
4
2
8
Pounds Produced in 40 Hours Meat Potatoes
4
10
20
5
B. 5 pounds of meat.
C. 5 hours of labor.
Farmer
Rancher
D. 2 hours of labor.
Q: 49
