For Each Watch Switzerland Produces,it Gives Up the Opportunity to Produce

question 30

Multiple Choice

For each watch Switzerland produces,it gives up the opportunity to produce 50 pounds of cheese.Germany can produce one watch at a cost of 100 pounds of cheese.Which of the following is true?

• A)The opportunity cost of producing watches is greater in Switzerland.
• B)The opportunity cost of producing cheese is greater in Switzerland.
• C)The opportunity cost of producing cheese is the same in both countries.
• D)It is impossible to compare costs because the two countries use different technologies.
• E)In the two countries combined,the cost of producing one watch is 150 pounds of cheese.

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Definitions:

Condition Precedent

A condition or event that must occur before a contract obligation or rights become effective or enforceable.

Dream Home

An idealized or perfect residence envisioned by an individual or family, often embodying one's aspirations for comfort, location, and features.

Contractual Clause

A provision included in a contract that specifies a particular requirement, obligation, or condition affecting the agreement's parties.

Specific Performance

A court order to perform the exact terms of a contract, rather than paying damages for failing to meet the terms.