Figure 3-23 the Graph Below Represents the Various Combinations of Ham and Ham

question 127

Multiple Choice

Figure 3-23
The graph below represents the various combinations of ham and cheese (in pounds) that the nation of Bonovia could produce in a given month.
-Refer to Figure 3-23.In the nation of Cropitia,the opportunity cost of a pound of cheese is 1.5 pounds of ham.Bonovia and Cropitia both can gain from trading with one another if one pound of cheese trades for

• A)1.0 pound of ham.
• B)1.4 pounds of ham.
• C)2.1 pounds of ham.
• D)All of the above are correct.

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Definitions:

Security Instrument

A legal document that creates a lien on a property, securing the repayment of a loan or performance of an obligation.

Re-filed

The act of submitting or filing a document or case again after it has been dismissed or needs correction.

Article 9

A section of the Uniform Commercial Code governing secured transactions, where a creditor has a security interest in the personal property of a debtor as collateral for a debt.

UCC

Stands for Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.