Table: Production Possibilities Reference: Ref 8-8 Table: Production Possibiliti

Question

Table: Production Possibilities

Reference: Ref 8-8 Table: Production Possibilities

(Table: Production Possibilities) Use Table: Production Possibilities. The opportunity cost of 1 computer for _____ is _____box (es) of roses.

Select one:

a. Colombia; 0.5

b. the United States; 0.5

c. the United States; 2

d. Colombia; 1

(a) United States Possibilities One Possibility Another Possibility Quantity of roses (boxes) 1,000 0 Quantity of computers 0 2,000 (b) Columbia Production Possibilities One Possibility Another Possibility Quantity of roses (boxes) 2,000 0 Quantity of computers 0 1,000

Explanation / Answer

For producing one computer Colombia has to give up 2 boxes of roses but united states have to give up only 0.5 boxes of roses. So, the opportunity cost of 1 computer is 0.5 in united states. The answer is "B".

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