Table 14-2
Alpha can produce either 18 oranges or 9 apples an hour, while Omega can produce either 16 oranges or 4 apples an hour.
-Refer to Table 14-2.What terms of trade between apples and oranges would allow both Alpha and Omega to gain by specialization and exchange?
A) 2 apples for 3 oranges
B) 3 apples for 3 oranges
C) 1 apple for 3 oranges
D) 1 orange for 0.2 apples
Correct Answer:
Verified
Q30: The opportunity cost of producing a pair
Q31: Table 14-1
Alternate Outputs from One Day's Labour
Q32: If two countries are each producing two
Q33: Table 14-2
Alpha can produce either 18 oranges
Q34: Suppose that Canada can produce 100 hockey
Q36: Assume that one day's labour in England
Q37: Suppose that Canada can make 15 cars
Q38: Table 14-3
Karl can produce either 10 tonnes
Q39: Table 14-3
Karl can produce either 10 tonnes
Q40: Table 14-3
Karl can produce either 10 tonnes
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