Table 3-4 Assume That the Farmer and the Rancher Can Switch Between

question 215

Multiple Choice

Table 3-4
Assume that the farmer and the rancher can switch between producing meat and producing potatoes at a constant rate.

-Refer to Table 3-4.The opportunity cost of 1 pound of potatoes for the farmer is

• A) 1/4 pound of meat.
• B) 2 hours of labor.
• C) 4 pounds of meat.
• D) 8 hours of labor.

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