The Following Production Possibilities Schedule Shows the Quantities of Soybeans

question 42

Multiple Choice

The following production possibilities schedule shows the quantities of soybeans and oil that can each be produced in Canada and Mexico with one unit of equivalent resources. TABLE 32-3 Refer to Table 32-3.The opportunity cost of one bushel of soybeans in Mexico is

• A)3 barrels of oil.
• B)0.33 barrels of oil.
• C)0.4 bushels of soybeans.
• D)indicative of Mexico's comparative advantage in soybean production.
• E)lower than the opportunity cost of soybeans in Canada.

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