Answered: Corn (lb) Scarves(#)…

Corn (lb) Scarves(#) U.S. 20 10 Mexico 25 5 What is the opportunity cost of one lb of corn in U.S.? a. 1 scarf b. 2 scarves c. 0.5 scarves d. 1/4 scarf

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter2: Economics: Eight Powerful Ideas

Section: Chapter Questions

Problem 16P

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Question

Corn (lb) Scarves(#)
U.S. 20 10
Mexico 25 5

What is the opportunity cost of one lb of corn in U.S.?

a. 1 scarf

b. 2 scarves

c. 0.5 scarves

d. 1/4 scarf

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