Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Table 1.3Production Possibilities for Brushes and CombsCombinationNumber of combsOpportunity Cost(Foregone brushes)Number of brushesOpportunity Cost (Foregone combs)J4 0NAK3 10 L2 17 M1 21 N0NA23 On the basis of Table 1.3, in the production range of 21 to 23 brushes the opportunity cost of producing one more comb in terms of brushes is
A. 4.
B. 1/21.
C. 1/2.
D. 21/23.
Answer: C
Economics
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A) closer to; decreased B) closer to; increased C) further away from; decreased D) further away from; increased
Economics
Refer to Table 2-19. What is Betty's opportunity cost of making a bench?
A) 2 statues B) 1/2 of a statue C) 2.8 statues D) 1.75 benches
Economics