Amy can produce either 5,000 pounds of cheese or 20 cars per year. Mike can produce either 5,000 pounds of cheese or 10 cars per year. Mike's opportunity cost of producing one car is ________ pound(s) of cheese.
A) 1/250
B) 1/20
C) 250
D) 500
Correct Answer:
Verified
Q18: An economy has two workers, Jen and
Q19: The production possibility curve (PPC)shows the _
Q20: In general, a nation can enjoy a
Q21: Citizens can consume more of everything in
Q22: Amy can produce either 5,000 pounds of
Q24: Amy can produce either 5,000 pounds of
Q25: The following graph is the production possibility
Q26: The country Happy Land claims that it
Q27: Amy can produce either 5,000 pounds of
Q28: The following graph is the production possibility
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents