Table 2-12
Table 2-12 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.
-Refer to Table 2-12. What is Honduras's opportunity cost of producing one canoe?
A) 1/5 of a sailboat
B) 1.5 sailboats
C) 5 sailboats
D) 6 sailboats

Question

Table 2-12
  Table 2-12 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.
-Refer to Table 2-12. What is Honduras's opportunity cost of producing one canoe?
A) 1/5 of a sailboat 
B) 1.5 sailboats 
C) 5 sailboats 
D) 6 sailboats

Quizplus · Accepted Answer

The opportunity cost of producing one canoe is the amount of sailboats that could have been produced instead. If Honduras can produce 5 canoes for every sailboat, then the opportunity cost of one canoe is 1/5 of a sailboat.

Table 2-12 Table 2-12 Shows the Number of Labor Hours