Refer to the information provided in Figure 33.1 below to answer the question(s) that follow. Figure 33.1
-Refer to Figure 33.1. The opportunity cost of producing a bushel of soybeans in the United States is
A) 1/2 as much as that in Canada.
B) twice as much as that in Canada.
C) 4 times as much as that in Canada.
D) the same as that in Canada.

Question

Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.  Figure 33.1
-Refer to Figure 33.1. The opportunity cost of producing a bushel of soybeans in the United States is
A) 1/2 as much as that in Canada. 
B) twice as much as that in Canada. 
C) 4 times as much as that in Canada. 
D) the same as that in Canada.

Quizplus · Accepted Answer

According to the information in Figure 33.1, the opportunity cost of producing a bushel of soybeans in the United States is 2 bushels of wheat, while in Canada it is only 1/2 bushel of wheat. Therefore, the opportunity cost of producing soybeans in the United States is twice as much as that in Canada.

Refer to the Information Provided in Figure 33