Table 3-11
Assume that Falda and Varick can switch between producing wheat and producing cloth at a constant rate.

-Refer to Table 3-11.Falda's opportunity cost of one bushel of wheat is
A) 2/3 yard of cloth and Varick's opportunity cost of one bushel of wheat is 2/5 yard of cloth.
B) 2/3 yard of cloth and Varick's opportunity cost of one bushel of wheat is 5/2 yards of cloth.
C) 3/2 yards of cloth and Varick's opportunity cost of one bushel of wheat is 2/5 yard of cloth.
D) 3/2 yards of cloth and Varick's opportunity cost of one bushel of wheat is 5/2 yards of cloth.

Question

Table 3-11
Assume that Falda and Varick can switch between producing wheat and producing cloth at a constant rate.
 
-Refer to Table 3-11.Falda's opportunity cost of one bushel of wheat is
A) 2/3 yard of cloth and Varick's opportunity cost of one bushel of wheat is 2/5 yard of cloth. 
B) 2/3 yard of cloth and Varick's opportunity cost of one bushel of wheat is 5/2 yards of cloth. 
C) 3/2 yards of cloth and Varick's opportunity cost of one bushel of wheat is 2/5 yard of cloth. 
D) 3/2 yards of cloth and Varick's opportunity cost of one bushel of wheat is 5/2 yards of cloth.

Quizplus · Accepted Answer

The Answer of Table 3-11
Assume that Falda and Varick can switch between producing wheat and producing cloth at a constant rate.
 
-Refer to Table 3-11.Falda's opportunity cost of one bushel of wheat is
A) 2/3 yard of cloth and Varick's opportunity cost of one bushel of wheat is 2/5 yard of cloth. 
B) 2/3 yard of cloth and Varick's opportunity cost of one bushel of wheat is 5/2 yards of cloth. 
C) 3/2 yards of cloth and Varick's opportunity cost of one bushel of wheat is 2/5 yard of cloth. 
D) 3/2 yards of cloth and Varick's opportunity cost of one bushel of wheat is 5/2 yards of cloth.

Table 3-11 Assume That Falda and Varick Can Switch Between Producing Wheat