Multiple Choice
In an eight-hour day,Andy can produce either 24 loaves of bread or 8 pounds of butter.In an eight-hour day,John can produce either 8 loaves of bread or 8 pounds of butter.The opportunity cost of producing 1 pound of butter is
A) 1/3 hour for Andy and 1 hour for John.
B) 1 hour for Andy and 1 hour for John.
C) 3 loaves of bread for Andy and 1 loaf of bread for John.
D) 1/3 loaves of bread for Andy and 1 loaf of bread for John.
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q138: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q139: The economy can produce 0X and 15Y,10X
Q140: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q141: Country 1 produces two goods,A and B.Country
Q142: Productive efficiency implies that<br>A) all consumers' wants
Q144: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q145: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q146: A PPF is bowed outward as a
Q147: The economy can produce 15X and 15Y,10X
Q148: Points that lie outside (or beyond)the PPF