Homework Answers
Estonia can produce either 180 units of cell phones and no lumber with the given resources or 720 broad feet of lumber and no cell phones with the given resources. It means that the same number of resources are required to produce 180 units of cell phones or 720 broad feet of lumber. The opportunity cost of producing an additional cell phone is 720/180 = 4 broad feet of lumber. In order to produce one additional cell phone, 4 broad feet of lumber are needed to be sacrificed. So, the opportunity cost of producing one additional unit of cell phone is 4 broad feet of lumber.
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19 20 Cell Phone Lumber output Output (board feet) Estonia 180 Finland 200 This table shows...
One Cell PhoneLumber (per board 40 hours 16 hours foot) 8 hours 4 hours Estonia Finland...
One Cell PhoneLumber (per board 40 hours 16 hours foot) 8 hours 4 hours Estonia Finland The table above shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. What is Estonia's opportunity cost of producing one cell phone? O A. 0.2 board feet of lumber O B. 5 board feet of lumber C. 8 board feet of lumber O D. 32 board feet of lumber
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One Cell PhoneLumber (per board 40 hours 16 hours foot) 8 hours 4 hours Estonia Finland The table above shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. What is Estonia's opportunity cost of producing one cell phone? O A. 0.2 board feet of lumber O B. 5 board feet of lumber C. 8 board feet of lumber O D. 32 board feet of lumber
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