Refer to the Information Provided in Table 20 $\quad$ $\quad$

question 199

Multiple Choice

Refer to the information provided in Table 20.1 below to answer the question(s) that follow.
Table 20.1 $\quad$$\quad$$\quad$$\quad$$\quad$ $\text {Mexico}$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Guatemala}$
$\begin{array}{rrrr} \text {Oranges}& \text {Bananas}& \text {Oranges}& \text {Bananas}\\ \text { bushel/acre}&\text { bushel/acre }&\text { bushel/acre}&\text { bushel/acre }\\\hline 200 & 0 & 50 & 0 \\160 & 40 & 40 & 20 \\120 & 80 & 30 & 40 \\80 & 120 & 20 & 60 \\40 & 160 & 10 & 80 \\0 & 200 & 0 & 100 \\\hline\end{array}$

-Refer to Table 20.1. In Mexico, the opportunity cost of 1 bushel of bananas is

• A) 1/2 bushel of oranges.
• B) 1 bushel of oranges.
• C) 2 bushels of oranges.
• D) 5 bushels of oranges.

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Definitions:

Variation

The degree to which data points in a statistical distribution or data set diverge from the average or mean.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, minus the number of parameters estimated.

Number of Treatments

The total count of distinct experimental conditions applied in research to assess their effects on outcomes.

MSB

Marginal Social Benefit; the additional benefit to society from one more unit of a good or service being produced and consumed.