According to the above table, which assumes that opportunity costs of producing goods X and Y are constant, the opportunity cost of producing one unit of Good X is ________ units of Good Y for Chen and ________ units of Good Y for Holly
A) 25; 100
B) 0.5; 2.5
C) 2; 0.4
D) 100; 25
B
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How might technological spillover explain why countries with high rates of population growth don't have higher per-capita income?
What will be an ideal response?
If the marginal cost of producing the fifth unit of output is higher than the marginal cost of producing the fourth unit of output, then at five units of output, average total cost must be rising
a. True b. False Indicate whether the statement is true or false
The net national savings rate for the United States, compared with that of other industrial nations is
A. much higher. B. a little higher. C. lower.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we can infer that Country A will specialize in:
A. trucks, and be willing to accept no more than 5 cars for each truck. B. cars, and be willing to give no more than 5 cars for each truck. C. trucks, and be willing to accept no less than 5 cars for each truck. D. cars, and be willing to give no less than 5 cars for each truck.