Table 34-1
?
Alternate Outputs from One Day’s Labor Input
?
Wheat
?
Textiles
United States
?
?
?
(one person’s/day’s labor)
12 bushels
or
3 yards
?
?
?
?
Great Britain
?
?
?
(one person’s/day’s labor)
3 bushels
or
12 yards
?
From Table 34-1, the opportunity cost of one bushel of wheat in Great Britain is
A. 1/4 yard of textiles.
B. 3 yards of textiles.
C. 12 yards of textiles.
D. 4 yards of textiles.
Answer: D
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