The following production possibilities schedule shows the quantities of soybeans and oil that can be produced in Canada and Mexico with one unit of equivalent resources.
-Refer to Table 33- 3. The opportunity cost of one bushel of soybeans in Mexico is
A) lower than the opportunity cost of soybeans in Canada.
B) 0.4 bushels of soybeans.
C) 3 barrels of oil.
D) indicative of Mexico's comparative advantage in soybean production.
E) 0.33 barrels of oil.
Correct Answer:
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