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refer to table 2-3. the opportunity cost of 1 pound of potatoes for the farmer is Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate.

refer to table 2-3. the opportunity cost of 1 pound of potatoes for the farmer is
 
Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate.
 
Table 3-23:

Worker

Labor hours needed to produce 1 lb of: Pounds Produced in 24 hrs
Pork Tomato Pork  Tomatoes
Farmer 6 3 4 8
Rancher 4 4 6 6


Refer to Table 3-23. The opportunity cost of 1 pound of pork for the farmer is
a.) 1/2 pounds of tomatoes
b.) 1/2 hour of labor
c.) 2 pounds of tomatoes
d.) 2 hours of labor

Jun 08 2021 View more View Less

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