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

Question 550

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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 Spain is A) 1/2 unit of bread. B) 2 hours of labor. C) 2 units of bread. D) 4 hours of labor. ​
-Refer to Table 3-24. The opportunity cost of 1 unit of cheese for Spain is


A) 1/2 unit of bread.
B) 2 hours of labor.
C) 2 units of bread.
D) 4 hours of labor.

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