Table 2-16
Table 2-16 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland.
-Refer to Table 2-16. What is Finland's opportunity cost of producing one board foot of lumber?
A) 0.25 cell phones
B) 4 cell phones
C) 12 cell phones
D) 16 cell phones

Question

Table 2-16
  Table 2-16 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland.
-Refer to Table 2-16. What is Finland's opportunity cost of producing one board foot of lumber?
A) 0.25 cell phones 
B) 4 cell phones 
C) 12 cell phones 
D) 16 cell phones

Quizplus · Accepted Answer

The opportunity cost of producing one board foot of lumber in Finland is 0.25 cell phones, as it represents the amount of cell phones that must be foregone to produce one additional unit of lumber.

Table 2-16 Table 2-16 Shows the Number of Labor Hours