Table 2-9 Table 2-9 Shows the Number of Labor Hours Required to of Labor

question 192

Multiple Choice

Table 2-9

Table 2-9 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.
-Refer to Table 2-9.What is Guatemala's opportunity cost of producing one sailboat?

• A)1/6 of a canoe
• B)2/3 of a canoe
• C)3 canoes
• D)6 canoes

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Definitions:

Legally Entitled

Having a legal right or claim to something under the law.

Bilateral Contract

A contract type involving two parties where each promises to perform an act in exchange for the other party's act.

Consideration

In contract law, this refers to something of value exchanged between parties as part of an agreement.

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Describes a legal agreement or obligation that can be upheld or compelled through legal processes.