Multiple Choice
Table 2.4 Table 2.4 shows the output per week of two jewellers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.4.What is Serena's opportunity cost of making a necklace?
A) 2 necklaces
B) 1/2 of a bracelet
C) 1/2 of a necklace
D) 3/4 of a bracelet
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Figure 2.3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3087/.jpg" alt="Figure 2.3
Q56: The basis for trade is comparative advantage,
Q103: Comparative advantage means the ability to produce
Q115: Specialising in the production of a good
Q124: Each person goes about her daily business
Q157: An increase in the unemployment rate may
Q169: Table 2.5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3087/.jpg" alt="Table 2.5
Q184: The ability of an economy to increase
Q188: The production possibility frontier shows the _
Q367: Consider the following items: a. the novel