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 Finland's opportunity cost of producing one cubic metre of lumber?
A)0.25 cell phones
B)4 cell phones
C)12 cell phones
D)16 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 Finland's opportunity cost of producing one cubic metre 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 cubic metre of lumber in Finland is 0.25 cell phones, meaning that for every cubic metre of lumber produced, Finland forgoes the production of 0.25 cell phones.

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