Question 9 37037 out of 37037 points figure 2 1 refer

This preview shows page 30 - 37 out of 123 pages.

Question 93.7037 out of 3.7037 pointsFigure 2-1
Refer to Figure 2-1.Point Ais
Question 103.7037 out of 3.7037 pointsTable 2-4OneDigitalCameraWheat (perpound)China100 hours4 hours
South Korea60 hours3 hoursTable 2-4 shows the number of labor hours required to produce a digital camera and a pound of wheat in China and South Korea.Refer to Table 2-4. What is South Korea's opportunity cost of producing one digital camera?
Question 113.7037 out of 3.7037 pointsFigure 2-7
Figure 2-7 shows the production possibilities frontiers for Pakistan and Indonesia. Each country produces two goods, cotton and cashews.Refer to Figure 2-7.What is the opportunity cost of producing 1 bolt of cotton in Indonesia?
Question 123.7037 out of 3.7037 points
Figure 2-1Refer to Figure 2-1. Point BisSelected Answer:technically efficient.Answers:the equilibrium output combination.inefficient in that not all resources are being used. technically efficient.unattainable with current resources.
Question 133.7037 out of 3.7037 pointsThe principle of opportunity cost is that
Question 143.7037 out of 3.7037 pointsTable 2-4OneDigitalCameraWheat (perpound)China100 hours4 hoursSouth Korea60 hours3 hoursTable 2-4 shows the number of labor hours required to produce a digital camera and a pound of wheat in China and South Korea.Refer to Table 2-4. What is South Korea's opportunity cost of producing one pound of wheat?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture