If only two products are produced in an economy,corn and cars,the opportunity cost of producing a bushel of corn equals the
A) gain in cars divided by the loss in corn.
B) loss in corn divided by the gain in cars.
C) opportunity cost of producing a car.
D) gain in corn divided by the loss in cars.
E) loss in cars divided by the gain in corn.
Correct Answer:
Verified
Q8: Adam Smith stated that a _ market
Q10: If only two products are produced in
Q11: An autarky is
A) a trade deficit.
B) a
Q11: A country that trades with other countries
Q12: The production possibilities curve for a two-good
Q14: A country that does not trade with
Q15: A production possibilities curve has an outwardly-bowed
Q16: If only two products are produced in
Q17: Autarky is a situation in which a
Q18: All possible combinations of goods and services
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