Robinson Crusoe divides his time between catching fish and gathering fruit. Part of his production possibilities frontier is given in the above table. If Mr
Crusoe is on his PPF and he increases the amount of fruit he gathers from 56 to 90 pounds, the opportunity cost is
A) 34 pounds of fruit.
B) 90 pounds of fruit.
C) 17 pounds of fish.
D) 37 pounds of fish.
E) 31 pounds of fish.
C
Economics
You might also like to view...
LRE. Suppose there is an increase in SRAS. As wages eventually react to the new situation, what will happen? Wages will _____ and SRAS will shift ___
a. increase; right b. increase; left c. decrease; right d. decrease left
Economics
The three largest Federal Reserve banks (New York, Chicago, and San Francisco) combined hold more than ________ percent of the assets of the Federal Reserve System
A) 25 B) 33 C) 50 D) 67
Economics