Refer to the information provided in Table 33.5 below to answer the question(s) that follow. Cashews are measured in bushels and tea is measured in pounds (lbs.)
Table 33.5
Refer to Table 33.5. In Vietnam, the opportunity cost of
A. a lb. of tea is 2/15 of a bushel of cashews.
B. a lb. of tea is 40 bushels of cashews.
C. a bushel of cashews is 4/3 of a lb. of tea.
D. a lb. of tea is 1/8 of a bushel of cashews.
Answer: A
You might also like to view...
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, if the market quantity supplied is 18, the price must be
A) $2. B) $3. C) $4. D) $5.
The above table depicts prices, quantities, and marginal costs faced by the campus bookstore. Based on marginal analysis, what is the profit-maximizing level of output for the bookstore?
A) 1 book B) 2 books C) 3 books D) 4 books
Annual Head Start costs per child served are ________ average child care costs.
A. about the same as B. much lower C. somewhat higher than D. declining when compared to
Suppose the equilibrium price of wheat is $2.25 per bushel. At a price below that,
What will be an ideal response?