Multiple Choice
Betty and Ann live on a desert island. With a day's labor, Ann can produce 8 fish or 4 coconuts; Betty can produce 6 fish or 2 coconuts. Ann's opportunity cost of producing 1 coconut is ________ and she should specialize in the production of ________.
A) 8 fish per coconut; fish
B) 2 fish per coconut; coconuts
C) 6 fish per coconut; coconuts
D) 0 fish per coconut; coconuts
Correct Answer:
Verified
Correct Answer:
Verified
Q275: Ted can study for his economics exam
Q276: Using a production possibilities frontier, economic growth
Q277: One of the largest categories of exports
Q278: Production possibilities<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt="Production possibilities
Q279: An opportunity cost of economic growth is<br>A)
Q281: In a world lacking property rights, it
Q282: The production possibilities frontier bows outward because<br>A)
Q283: By specialization and trade, two individuals can<br>A)
Q284: The opportunity cost of more capital goods
Q285: A marginal benefit curve shows<br>A) the efficient