Solved

Smith and Jones Comprise a Two-Person Economy Refer to the Table Above

Question 97

Multiple Choice

Smith and Jones comprise a two-person economy. Their hourly rates of production are shown below.  Good  Smith  Jones  Computers 106 Calculators 100120\begin{array}{lccc}\text { Good } &\text { Smith } & \text { Jones } \\\text { Computers } & 10 & 6 \\\text { Calculators } & 100 & 120\end{array} Refer to the table above. The opportunity cost of making an extra calculator for Smith is __________ and for Jones it is __________.


A) 0.10 computers; 0.05 computers
B) 10 computers; 6 computers
C) 1 computer; 0.5 computers
D) 0.6 computers; 1.2 computers

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions