Use the Following to Answer Questions

question 205

Multiple Choice

Use the following to answer questions:
Figure: Comparative Advantage
-(Figure: Comparative Advantage) The figure illustrates both the U.S. and Japanese production possibilities frontiers for TVs and wheat. Based on this information, which of the following is TRUE?

• A) The opportunity cost of producing a TV in the United States is 1/3 of a bushel of wheat.
• B) The opportunity cost of producing a TV in the United States is 900 bushels of wheat.
• C) The opportunity cost of producing a TV in Japan is 2 bushels of wheat.
• D) The opportunity cost of producing a bushel of wheat in Japan is 2 TVs.

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Definitions:

Environmentally Friendly

Practices or products that are not harmful to the environment, often emphasizing conservation of resources and reduction of pollution.

Competitive Product

A product that is offered in the same market as others, competes for the same customers, and serves a similar purpose.

Florida Department

This term is too vague to provide a specific definition without additional context. It could refer to any department within the state of Florida's government or institutions.

Orange Juice

A beverage made by squeezing or reaming oranges, consumed for its flavor and health benefits.