Solved

Smith and Jones Comprise a Two-Person Economy

Question 111

Multiple Choice

Smith and Jones comprise a two-person economy.Their hourly rates of production are shown below.
Smith and Jones comprise a two-person economy.Their hourly rates of production are shown below. -The opportunity cost of an extra calculator for Smith is __________ and for Jones it is __________. A) 0.10 computers;0.05 computers B) 10 computers;6 computers C) 1 computer;0.5 computers D) 0.6 computers;1.2 computers E) 0.05 computers;0.10 computers
-The opportunity cost of an extra calculator for Smith is __________ and for Jones it is __________.


A) 0.10 computers;0.05 computers
B) 10 computers;6 computers
C) 1 computer;0.5 computers
D) 0.6 computers;1.2 computers
E) 0.05 computers;0.10 computers

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q106: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3713/.jpg" alt=" -The opportunity cost

Q107: Joe's opportunity cost of producing body piercings

Q108: Increased specialization in the production of goods<br>A)

Q109: Jerry's production possibilities curve for goods W

Q110: Jerry's production possibilities curve for goods W

Q112: In general,it is true that<br>A) more specialization

Q113: If a given production combination is known

Q114: Point A on a production possibilities curve,where

Q115: The slope of an individual's production possibilities

Q116: Application of the Principle of Comparative Advantage