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Figure 2-14 Figure 2-14 Shows the Production Possibilities Frontiers

Question 322

Multiple Choice

Figure 2-14 Figure 2-14 Figure 2-14 shows the production possibilities frontiers for Greenland and Iceland. Each country produces two goods, snow cones and popsicles. -Refer to Figure 2-14. What is the opportunity cost of producing 1 snow cone in Greenland? A) 2/3 of a popsicle B) 5/6 of a popsicle C) 1 1/5 popsicles D) 200 popsicles Figure 2-14 shows the production possibilities frontiers for Greenland and Iceland. Each country produces two goods, snow cones and popsicles.
-Refer to Figure 2-14. What is the opportunity cost of producing 1 snow cone in Greenland?


A) 2/3 of a popsicle
B) 5/6 of a popsicle
C) 1 1/5 popsicles
D) 200 popsicles

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