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Suppose a Country's Workers Can Produce 4 Watches Per Hour

Question 49

Multiple Choice

Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If there is no trade, the domestic price of 1 ring is

A) 1/4 of a watch.
B) 3 watches.
C) 1/3 of a watch.
D) 12 watches.
E) 4 watches.

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