Exhibit 28-1 Alpha can produce either 18 tons of oranges or 9 tons of apples in a year,while Omega can produce either 16 tons of oranges or 4 tons of apples.
Refer to Exhibit 28-1.Which of the following exchange rates between apples and oranges would allow both Alpha and Omega to gain by specialization and exchange?
A) 1 ton of oranges for 1/3 of a ton of oranges
B) 1 ton of apples for 3 1/3 tons of oranges
C) 1 ton of apples for 2 tons of oranges
D) 1 ton of oranges for 0.4 tons of apples
Correct Answer:
Verified
Q3: When a country allows trade and becomes
Q5: When a country allows trade and becomes
Q22: When a country allows trade and becomes
Q29: Mutually beneficial trade will occur whenever the
Q31: Exhibit 28-1 Alpha can produce either 18
Q33: In Artland the opportunity cost of producing
Q34: In Artland the opportunity cost of producing
Q36: Exhibit 28-1 Alpha can produce either 18
Q37: Which of the following is not a
Q38: Exhibit 28-1 Alpha can produce either 18
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