Table 3-24
Assume that England and Spain can switch between producing cheese and producing bread at a constant rate.

-Refer to Table 3-24. The opportunity cost of 1 unit of bread for England is
A)1/4 unit of cheese.
B)1/4 hour of labor.
C)4 units of cheese.
D)4 hours of labor.

Question

Table 3-24
Assume that England and Spain can switch between producing cheese and producing bread at a constant rate.
​  ​
-Refer to Table 3-24. The opportunity cost of 1 unit of bread for England is
A)1/4 unit of cheese. 
B)1/4 hour of labor. 
C)4 units of cheese. 
D)4 hours of labor.

Quizplus · Accepted Answer

The Answer of Table 3-24
Assume that England and Spain can switch between producing cheese and producing bread at a constant rate.
​  ​
-Refer to Table 3-24. The opportunity cost of 1 unit of bread for England is
A)1/4 unit of cheese. 
B)1/4 hour of labor. 
C)4 units of cheese. 
D)4 hours of labor.

Table 3-24 Assume That England and Spain Can Switch Between Producing Cheese