Table 2.12 Table 2.12 shows the number of labour hours required to produce a cell phone and a cubic metre of lumber in Estonia and Finland.
-Refer to Table 2.12.What is Estonia's opportunity cost of producing one cubic metre of lumber?
A)0.2 cell phones
B)5 cell phones
C)8 cell phones
D)32 cell phones

Question

Table 2.12  Table 2.12 shows the number of labour hours required to produce a cell phone and a cubic metre of lumber in Estonia and Finland.
-Refer to Table 2.12.What is Estonia's opportunity cost of producing one cubic metre of lumber?
A)0.2 cell phones 
B)5 cell phones 
C)8 cell phones 
D)32 cell phones

Quizplus · Accepted Answer

The opportunity cost of producing one cubic metre of lumber in Estonia is 0.2 cell phones, meaning Estonia gives up 0.2 cell phones for each cubic metre of lumber produced.

Table 212 Table 2