Jonathan can make a birdhouse in 3 hours. He can make a bird feeder in 1 hour. The opportunity cost to Jonathan of making a birdhouse is 1/3 bird feeder.
Correct Answer:
Verified
Q24: Differences in opportunity cost allow for gains
Q33: Two countries can achieve gains from trade
Q43: Goods produced abroad and sold domestically are
Q56: Some countries win in international trade, while
Q60: Adam Smith developed the theory of comparative
Q190: Suppose that a worker in Taiwan can
Q190: When each person specializes in producing the
Q192: If it takes Canadian workers fewer hours
Q193: Rusty can edit 2 pages in one
Q196: Unless two people who are producing two
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