Table 3-23 Assume That the Farmer and the Rancher Can Switch Between

question 369

Multiple Choice

Table 3-23
Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate.
​
-Refer to Table 3-23. The opportunity cost of 1 pound of tomatoes for the farmer is

• A)1/2 pound of pork.
• B)2 hours of labor.
• C)2 pounds of pork.
• D)4 hours of labor.

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Definitions:

Taft-Hartley Act

A 1947 federal law that imposed several restrictions on labor unions, including prohibiting certain types of strikes and requiring union leaders to swear they were not communists.

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