Figure 2-13 Figure 2-13 Shows the Production Possibilities Frontiers

question 473

Multiple Choice

Figure 2-13 Figure 2-13 shows the production possibilities frontiers for Costa Rica and Guatemala. Each country produces two goods, pineapples and coconuts.
-Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of coconuts in Guatemala?

• A) 1/2 of a ton of pineapples
• B) 1 1/3 tons of pineapples
• C) 2 tons of pineapples
• D) 90 tons of pineapples

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Definitions:

Standard Deviation

A measure of how spread out numbers are in a dataset, indicating the variability or dispersion around the mean.

Box Plot

A graphical representation of a dataset's distribution, showing the median, quartiles, and outliers through a box and whisker plot.

Range

The difference between the highest and lowest values in a data set, reflecting the spread of values.

Interquartile Range

The difference between the 25th (Q1) and 75th (Q3) percentiles in a dataset, measuring the spread of the middle 50% of the data.