Maximum Feasible Hourly Production Rates (in Tons) of EitherCookies or Coffee Using All Available ResourcesProductCountry AlphaCountry BetaCookies38Coffee94Use the above table. Assuming constant opportunity costs, the opportunity cost of producing coffee in country Alpha is ________, and the opportunity cost of producing coffee in country Beta is ________.

A. 0.375 ton of coffee; 2.25 tons of cookies
B. 0.33 ton of cookies; 2 tons of cookies
C. 2.67 tons of cookies; 0.44 ton of coffee
D. 3 tons of cookies; 0.5 ton of cookies


Answer: B

Economics

You might also like to view...

Sectors where the development process leads to a more rapid expansion of demand than supply in goods or factor markets are known as

(a) the crisis in planning. (b) input-output analysis. (c) bottlenecks. (d) infant industries.

Economics

An increase in the cost of acquiring human capital will shift the labor supply curve to the left; eventually, this will tend to decrease the equilibrium wage rate

a. True b. False

Economics

A high-income household usually is headed by ________ , while a low-income household is usually headed by ________

a. a well-educated working couple; a single parent who is not working b. a highly-educated working female; two middle-aged well-educated adult workers c. a young poorly-educated working male; an old and highly educated male d. a poorly-educated working couple; a well-educated working couple

Economics

According to purchasing-power parity, if prices in the United States increase by a larger percentage than prices in the United Kingdom, then the

a. real exchange rate rises. b. nominal exchange rate rises. c. real exchange rate falls. d. nominal exchange rate falls.

Economics