Solved

If the Opportunity Cost of Producing Wheat in Canada Is

Question 149

Multiple Choice

If the opportunity cost of producing wheat in Canada is four buffaloes and the opportunity cost of producing wheat in the U.S. is seven sheep then we know that


A) four buffaloes must trade for seven sheep
B) seven buffaloes must trade for three sheep
C) we have insufficient information to determine anything about their trade
D) the U.S. should specialize in wheat
E) Canada should specialize in wheat

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents