Solved

Table 3-24 Assume That England and Spain Can Switch Between Producing Cheese

Question 444

Multiple Choice

Table 3-24
Assume that England and Spain can switch between producing cheese and producing bread at a constant rate.
Table 3-24 Assume that England and Spain can switch between producing cheese and producing bread at a constant rate. ​   ​ -Refer to Table 3-24. The opportunity cost of 1 unit of cheese for England is A) 1/4 unit of bread. B) 1 hour of labor. C) 4 units of bread. D) 4 hours of labor.
-Refer to Table 3-24. The opportunity cost of 1 unit of cheese for England is


A) 1/4 unit of bread.
B) 1 hour of labor.
C) 4 units of bread.
D) 4 hours of labor.

Correct Answer:

verifed

Verified

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

Related Questions