For a country in autarky,the opportunity cost of the good on the horizontal axis is the same as
A)the relative price of the good on the vertical axis.
B)the relative price of the good on the horizontal axis.
C)the opportunity cost of the good on the vertical axis.
D)the nominal price of the good on the horizontal axis.

Question

Quizplus · Accepted Answer

In autarky, the opportunity cost of a good is equal to its relative price, which is the price of the good on the horizontal axis in terms of the good on the vertical axis.

For a Country in Autarky,the Opportunity Cost of the Good