Table 19-7
Output Per Hour of Work Table 19-7 Shows the Output Per Hour of Work for

question 76

Essay

Table 19-7
Output Per Hour of Work
$\begin{array}{|l|c|c|}\hline & \text { Handbags } & \text { Jackets } \\\hline \text { Cambodia } & 15 & 3 \\\hline \text { Thailand } & 24 & 6 \\\hline\end{array}$ Table 19-7 shows the output per hour of work for handbags and jackets in Cambodia and in Thailand.
-Refer to Table 19-7.Fill in the following table with the opportunity costs of producing handbags and jackets for Cambodia and Thailand.
$\begin{array}{|l|l|l|}\hline & \text { Handbags } & \text { Jackets } \\\hline \text { Cambodia } & & \\\hline \text { Thailand } & & \\\hline\end{array}$

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing to buy at each price.

New Firms Enter

The process by which new companies start operations in a market, often increasing competition and innovation within the industry.

More Elastic

The term "More Elastic" describes a situation where the supply or demand for a good or service is more responsive to changes in price.

Monopolistically Competitive

Describes a market structure where many firms sell products that are similar but not identical, allowing for competition but also some degree of market power.