Figure 3-1 -Refer to Figure 3-1.Suppose Cliff Must Work 5 Hours to Work

Multiple Choice

Figure 3-1

-Refer to Figure 3-1.Suppose Cliff must work 5 hours to produce each bushel of corn.Then Cliff

A) must work 3 1/3 hours to produce each bushel of wheat, and his opportunity cost of a bushel of corn is 2/3 bushel of wheat.
B) must work 3 1/3 hours to produce each bushel of wheat, and his opportunity cost of a bushel of corn is 1.5 bushels of wheat.
C) must work 7.5 to produce each bushel of wheat, and his opportunity cost of a bushel of corn is approximately 2/3 bushel of wheat.
D) must work 7.5 hours to produce each bushel of wheat, and his opportunity cost of a bushel of corn is 1.5 bushels of wheat.