Refer to the above table. Assuming that opportunity costs are constant, the opportunity cost of producing a bicycle in the United States is equal to ________, and the opportunity cost of producing a bicycle in Mexico is ________
A) 4 computers; 0.5 computer
B) 0.25 computer; 2 computers
C) 2.67 bicycles; 0.33 computers
D) 0.375 computer; 3 bicycles
A
Economics
You might also like to view...
In a market economy a significant change in consumers' desire for product X will:
A. alter the profits or losses received by suppliers of product X. B. cause a reallocation of scarce resources. C. cause some industries to expand and others to contract. D. do all of these.
Economics
If the equilibrium price of aspirin is $2.50 and a price ceiling is imposed at $3.00, the market will have a(n):
A. surplus. B. shortage. C. accumulation of inventories. D. equilibrium.
Economics