If only two products are produced in an economy,wheat and wine,the opportunity cost of producing a gallon of wine equals the
A) gain in wine divided by the loss in wheat.
B) loss in wheat divided by the gain in wine.
C) opportunity cost of producing a wine.
D) gain in wheat divided by the loss in wine.
E) loss in wine divided by the gain in wheat.
Correct Answer:
Verified
Q5: Specialization according to _ advantage enables _
Q6: As more and more of a good
Q8: Adam Smith stated that a _ market
Q11: A country that trades with other countries
Q11: An autarky is
A) a trade deficit.
B) a
Q12: The production possibilities curve for a two-good
Q13: If only two products are produced in
Q14: A country that does not trade with
Q15: A production possibilities curve has an outwardly-bowed
Q20: An open economy is one that
A) relies
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents