Poland requires 4 hours of labor to produce 1 ton of coal and 1 hour of labor to produce a bushel of wheat. The Czech Republic requires 6 hours of labor to produce 1 ton of coal and 1 hour of labor to produce a bushel of wheat. What is the opportunity cost of coal in Poland?
A) 0.25 hours of labor per ton of coal
B) 0.25 bushels of wheat per ton of coal
C) 4 hours of labor per ton of coal
D) 4 bushels of wheat per ton of coal
Correct Answer:
Verified
Q56: (Figure: Indifference Curves) Of the following points
Q57: (Figure: Home Equilibrium with No Trade) Under
Q58: (Figure: Indifference Curves) If this economy produces
Q59: In order for the production possibilities frontier
Q60: (Figure: Home Production and Consumption) The figure
Q62: Poland requires 4 hours of labor to
Q63: The United States requires 20 hours of
Q64: Poland requires 4 hours of labor to
Q65: A nation will gain from trade if
Q66: (Figure: Indifference Curves) Which combination of wheat
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