Table 2-9
Table 2-9 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
-Refer to Table 2-9.What is Thailand's opportunity cost of producing one wristwatch?
A)0.05 pounds of rice
B)20 pounds of rice
C)25 pounds of rice
D)60 pounds of rice

Question

Table 2-9
  Table 2-9 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
-Refer to Table 2-9.What is Thailand's opportunity cost of producing one wristwatch?
A)0.05 pounds of rice 
B)20 pounds of rice 
C)25 pounds of rice 
D)60 pounds of rice

Quizplus · Accepted Answer

The opportunity cost of producing one unit of a good is the amount of another good that must be given up to produce that unit. If Thailand's production possibilities allow it to produce wristwatches and rice, the opportunity cost of one wristwatch in terms of rice is how much rice production must be foregone to produce an additional wristwatch. Without the specific numbers from Table 2-9, the correct answer cannot be determined directly from the question. However, based on the options provided and typical economic principles, the answer is chosen based on the assumption that it reflects a common understanding of opportunity cost calculations in economics.

Table 2-9 Table 2-9 Shows the Number of Labor Hours