The data given is for two hypothetical nations,Wat and Xat.The nations have the Production Possibilities Curves (PPC) for units of rice and corn as given below.
-Refer to the above data,in country Wat,the comparative cost of 1 unit of:
A) rice is 3 units of corn.
B) rice is 1/3 unit of corn and should not specialize in production of it if the two nations decide to trade with each other.
C) corn is 5 units of rice.
D) corn is 1/5 unit of rice.
Correct Answer:
Verified
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