Mexico and Japan
The following questions refer to the following table which shows the abilities of Mexico and Japan to produce food and cloth. Food and cloth are the only two commodities in the world and their production requires only labor. The amounts of labor required to produce one unit of each of these commodities in the two countries are shown in the table below.
-Refer to Mexico and Japan.What is the cost of producing one unit of food in Japan?
A) 2 bolts of cloth per bushel.
B) 4/3 bolts of cloth per bushel.
C) 3/4 bolts of cloth per bushel.
D) none of the above.
Correct Answer:
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