Refer to the information provided in Figure 18.1 below to answer the questions that follow. Figure 18.1
-Refer to Figure 18.1. The opportunity cost of producing a bushel of soybeans in the United States is

Question

Refer to the information provided in Figure 18.1 below to answer the questions that follow.  Figure 18.1
-Refer to Figure 18.1. The opportunity cost of producing a bushel of soybeans in the United States is

Quizplus · Accepted Answer

According to the production possibilities frontiers (PPFs) for Canada and the United States in Figure 18.1, the slope of the PPF for soybeans is steeper for the United States than for Canada. This means that the opportunity cost of producing a bushel of soybeans is higher in the United States than in Canada. Specifically, the opportunity cost of producing a bushel of soybeans in the United States is twice as much as that in Canada. Therefore, the best choice is B.

Refer to the Information Provided in Figure 18