Table 3-5 Labour hours needed to make one unit: Amount produced in 40 hours: Cheese Bread Cheese BreadEngland 1 2 40 2

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Table 3-5 Labour hours needed to make one unit: Amount produced in 40 hours: Cheese Bread Cheese BreadEngland 1 2 40 20Spain 2 8 20 5Refer to Table 3-5. What is the opportunity cost of one unit of cheese in Spain?Select one:a. 1 breadb. 2 breadsc. 1/2 breadd. 1/4 bread
Table 3-5
Labour hours needed to make one unit:
Amount produced in 40 hours:
Cheese Bread Cheese Bread
England 1 2 40 20
Spain 2 8 20 5
Refer to Table 3-5. What is the opportunity cost of one unit of cheese in Spain?
Select one:
a. 1 bread
b. 2 breads
c. 1/2 bread
d. 1/4 bread
Q 3
Table 3-5 Labour hours needed to make one unit: Amount produced in 40 hours: Cheese Bread Cheese BreadEngland 1 2 40 20Spain 2 8 20 5Refer to Table 3-5. How could England and Spain benefit?Select one:a. by England specializing in cheese and Spain specializing in breadb. by England specializing in neither good and Spain specializing in both goodsc. by England specializing in both goods and Spain specializing in neither goodd. by England specializing in bread and Spain specializing in cheese
Table 3-5
Labour hours needed to make one unit:
Amount produced in 40 hours:
Cheese Bread Cheese Bread
England 1 2 40 20
Spain 2 8 20 5
Refer to Table 3-5. How could England and Spain benefit?
Select one:
a. by England specializing in cheese and Spain specializing in bread
b. by England specializing in neither good and Spain specializing in both goods
c. by England specializing in both goods and Spain specializing in neither good
d. by England specializing in bread and Spain specializing in cheese
Q 4
Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where Sandy can make 6 tables or 18 chairs. Who has an absolute advantage in which product?Select one:a. Mike in tables, Sandy in chairsb. both Mike and Sandy in tablesc. both Mike and Sandy in chairsd. Mike in chairs, Sandy in tables
Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where Sandy can make 6 tables or 18 chairs. Who has an absolute advantage in which product?
Select one:
a. Mike in tables, Sandy in chairs
b. both Mike and Sandy in tables
c. both Mike and Sandy in chairs
d. Mike in chairs, Sandy in tables