Table 3-22 Assume That Zimbabwe and Portugal Can Switch Between Producing Toothbrushes

question 156

Multiple Choice

Table 3-22
Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing hairbrushes at a constant rate.
-Refer to Table 3-22. Suppose Zimbabwe decides to increase its production of toothbrushes by 10. What is the opportunity cost of this decision?

• A)0.3 hairbrush
• B)3 hairbrushes
• C)30 hairbrushes
• D)100 hairbrushes

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Definitions:

Independent Events

Events whose occurrence or outcome is not influenced by the occurrence or outcome of another event.

P(A and B)

The probability that both events A and B occur.

P(A)

The probability of event A occurring, an elementary concept in probability and statistics.

P(B)

The likelihood that event B will happen.