Multiple Choice
Graph 3-1
These figures illustrate the production possibilities frontiers for Robinson Crusoe and Friday with 12 hours of labour.
-Refer to Graph 3-1.For Friday, the opportunity cost of 1 kg of fish is:
A) 1 kg of coconuts
B) 3/2 kg of coconuts
C) 1/3 kg of coconuts
D) 2 kg of fish
Correct Answer:
Verified
Correct Answer:
Verified
Q11: Table 3-2<br> <span class="ql-formula" data-value="\begin{array}{|c|c|c|c|c|}\hline&\text
Q12: People's motivation to trade comes from the
Q13: Table 3-3<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q14: Table 3-2<br> <span class="ql-formula" data-value="\begin{array}{|c|c|c|c|c|}\hline&\text
Q15: Adam Smith discusses that countries should be
Q17: It takes Barbara four hours to make
Q18: Table 3-3<br> <span class="ql-formula" data-value="\begin{array}{|l|c|c|c|c|}\hline&\text
Q19: Mark is a computer company executive, and
Q20: Graph 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 3-2
Q21: The principle of comparative advantage was developed