Use the Figure Below to Answer the Following Questions

question 140

Multiple Choice

Use the figure below to answer the following questions.
Table 2.3.1
The planets of Vulcan and Romulus each produce goods X and Y.
The following table gives points on their production possibilities frontiers.
-Refer to Table 2.3.1.For Romulus, the opportunity cost of producing an additional unit of Y is

• A)3 units of X.
• B)2/3 units of X.
• C)3/2 units of Y.
• D)1/2 unit of X.
• E)2 units of X.

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Definitions:

Plowshares

Metal blades fitted to a plow, used in farming to cut through the soil.

Comparative Advantage

The ability of an entity to produce goods or services at a lower opportunity cost than other entities, leading to more efficient economic exchanges.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs and production technology.

Master Wood-carver

An highly skilled artisan specialized in crafting artistic designs and sculptures through the carving of wood.