Figure 3-2

-Refer to Figure 3-2. If the production possibilities frontier shown is for 48 hours of production, then how long does it take Venezuela to make one pound of cashews?
A) $$\frac { 1 } { 5 }$$ hour
B) $$\frac { 1 } { 3 }$$ hour
C)3 hours
D)5 hours

Question

Figure 3-2
 
-Refer to Figure 3-2. If the production possibilities frontier shown is for 48 hours of production, then how long does it take Venezuela to make one pound of cashews?
A) $$\frac { 1 } { 5 }$$ hour 
B) $$\frac { 1 } { 3 }$$ hour 
C)3 hours 
D)5 hours

Quizplus · Accepted Answer

Given the production possibilities frontier for 48 hours, if Venezuela can produce 240 pounds of cashews in 48 hours, it takes $\frac{48}{240} = \frac{1}{5}$ hour to produce one pound of cashews.

Figure 3-2 -Refer to Figure 3-2 15\frac { 1 } { 5 }51​

Figure 3-2

-Refer to Figure 3-2 $\frac { 1 } { 5 }$