Use the following to answer question:
-(Table: The Production Possibilities for Tractors and Crude Oil)Use Table: The Production Possibilities for Tractors and Crude Oil.The opportunity cost of _____ is _____ in the United States as/than in Mexico.

Question

Use the following to answer question: 
-(Table: The Production Possibilities for Tractors and Crude Oil)Use Table: The Production Possibilities for Tractors and Crude Oil.The opportunity cost of _____ is _____ in the United States as/than in Mexico.

Quizplus · Accepted Answer

According to the table, the opportunity cost of producing one unit of tractors in the United States is two units of crude oil, while in Mexico it is four units of crude oil. Therefore, the opportunity cost of producing tractors is lower in the United States than in Mexico.

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