Use the following table to answer the question below.Dave's Production Possibilities ScheduleSimon's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160080201204060408080406040120208001600Dave's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans. Simon's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 2, 1
B. 1, 2
C. 2, 1/2
D. 1/2, 2
Answer: D
You might also like to view...
On January 2, 1971, all cigarette advertising was banned on U.S. television and radio stations. Did this ban likely increase or decrease the profits of cigarette companies in 1971? Briefly explain
What will be an ideal response?
Net benefit is equal to total benefit minus marginal cost.
Answer the following statement true (T) or false (F)
Multiperiod forecasting with multiple predictors
A) is the same as the iterated AR forecast method. B) can use the iterated VAR forecast method. C) will yield superior results when using the multiperiod regression forecast h periods into the future based on p lags of each Yt , rather than the iterated VAR forecast method. D) will always yield superior results using the iterated VAR since it takes all equations into account.
When real GDP declines in a particular year, nominal GDP: a. will decline at a faster rate than real GDP if there is inflation. b. will decline at a slower rate than real GDP if there is inflation. c. may increase or decrease if there is inflation
d. will increase if there is deflation.