Table 3-8
Assume that Huang and Min can switch between producing parasols and producing porcelain plates at a constant rate.

-Refer to Table 3-8.The opportunity cost of 1 parasol for Huang is
A) 1/3 plate.
B) 1/2 plate.
C) 3 plates.
D) 6 plates.

Question

Table 3-8
Assume that Huang and Min can switch between producing parasols and producing porcelain plates at a constant rate.
 
-Refer to Table 3-8.The opportunity cost of 1 parasol for Huang is
A) 1/3 plate. 
B) 1/2 plate. 
C) 3 plates. 
D) 6 plates.

Quizplus · Accepted Answer

Huang can produce 3 plates or 1 parasol. So, the opportunity cost of 1 parasol is 3 plates.

Table 3-8 Assume That Huang and Min Can Switch Between Producing Parasols