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

Question 8

Multiple Choice

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

A) 1/4 of a ring.
B) 3 rings.
C) 4 rings.
D) 12 rings.
E) 1/3 of a ring.

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