Multiple Choice
The table below illustrates that, in one day, Tristan can produce either 12 fishing lures or mow 3 lawns, while Thomas can produce either 6 fishing lures or mow 6 lawns.
-Refer to Table 1- 1. What is Thomas's opportunity cost of producing one fishing lure?
A) 1 mowed lawn
B) 1/6 of a mowed lawn
C) there is no opportunity cost
D) 5 lures
E) 1/6 of a lure
Correct Answer:

Verified
Correct Answer:
Verified
Q4: With a budget of $200 million, the
Q7: Madeleine allows herself $100 per month for
Q8: With a budget of $200 million, the
Q10: An economic system that relies primarily upon
Q11: Which of the point(s) below is (are)
Q19: Consider the production possibilities boundary (PPB)of an
Q27: A farmer selling tomatoes and corn at
Q46: In traditional economies, economic behaviour is<br>A)based primarily
Q53: The barter system of exchange is inefficient
Q102: Many economies in central and Eastern Europe,including