Use the accompanying table to answer the following questions.
Table 3-4

-Refer to Table 3-4. The opportunity cost of one unit of cheese in England is:
A) four units of bread
B) two units of bread
C) 1/2 unit of bread
D) 1/4 unit of bread

Question

Use the accompanying table to answer the following questions.
Table 3-4
 
-Refer to Table 3-4. The opportunity cost of one unit of cheese in England is:
A) four units of bread 
B) two units of bread 
C) 1/2 unit of bread 
D) 1/4 unit of bread

Quizplus · Accepted Answer

According to the table, the opportunity cost of one unit of cheese in England is 1/2 unit of bread. Therefore, the best choice would be to produce more cheese in England and trade for bread with Portugal, as England has a comparative advantage in cheese production.

Use the Accompanying Table to Answer the Following Questions