Table 3-21 Assume That Jamaica and Norway Can Switch Between Producing Coolers

question 72

Multiple Choice

Table 3-21
Assume that Jamaica and Norway can switch between producing coolers and producing radios at a constant rate. The following table shows the number of coolers or number of radios each country can produce in one day.
-Refer to Table 3-21. Jamaica's opportunity cost of one cooler is

• A)0.5 radios, and Norway's opportunity cost of one cooler is 0.125 radios.
• B)0.5 radios, and Norway's opportunity cost of one cooler is 8 radios.
• C)2 radios, and Norway's opportunity cost of one cooler is 0.125 radios.
• D)2 radios, and Norway's opportunity cost of one cooler is 8 radios.

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Definitions:

Random Opportunistic Way

An approach where decisions and actions are taken spontaneously, capitalizing on unforeseen opportunities without a predetermined strategy.

Rationally Planned

The process of systematically organizing tasks or projects through logical and structured planning.

Thought-Out Plan

An intentionally devised strategy that has been carefully considered and organized to achieve a purpose.

Work Environment

The physical and psychological conditions in which employees perform their job duties.