The Following Production Possibilities Schedule Shows the Quantities of Soybeans

question 57

Multiple Choice

The following production possibilities schedule shows the quantities of soybeans and oil that can be produced in Canada and Mexico with one unit of equivalent resources. $$\begin{array}{l}\begin{array} { | l | l | l | } \hline & \begin{array} { l } \text { Soybeans } \\\text { (bushels) }\end{array} & \begin{array} { l } \text { Oil } \\\text { (barrels) }\end{array} \\\hline \text { Canada } & 60 & 10 \\\hline \text { Mexico } & 24 & 8 \\\hline\end{array}\\\text { TABLE 33- } 3\end{array}$$
-Refer to Table 33- 3. The opportunity cost of a barrel of oil in Canada is

• A) 16.67 bushels of soybeans.
• B) 6 bushels of soybeans.
• C) 2.5 bushels of soybeans.
• D) 1.2 barrels of oil.
• E) 0.8 barrels of oil.

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