According to table 1.2, what is the opportunity cost of producing one cruise ship in Norway? Worker units required in each area to produce the following number of ships and barrels of crude oil in one year. Cruise Ships Select one: Norway United States a. 3/4 million barrels of crude oil b. 1 million barrels of crude oil c. 4/3 million barrels of crude oil d. 8 million barrels of crude oil 6 6 Barrels of Crude Oil 8 2

MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter18: International Trade And Comparative Advantage
Section: Chapter Questions
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According to table 1.2, what is the opportunity cost of producing one cruise ship in Norway?
Worker units required in each area to produce the following number
of ships and barrels of crude oil in one year.
Cruise Ships
6
6
Select one:
Norway
United States
a. 3/4 million barrels of crude oil
b. 1 million barrels of crude oil
c. 4/3 million barrels of crude oil
d. 8 million barrels of crude oil
Barrels of Crude Oil
8
2
Transcribed Image Text:According to table 1.2, what is the opportunity cost of producing one cruise ship in Norway? Worker units required in each area to produce the following number of ships and barrels of crude oil in one year. Cruise Ships 6 6 Select one: Norway United States a. 3/4 million barrels of crude oil b. 1 million barrels of crude oil c. 4/3 million barrels of crude oil d. 8 million barrels of crude oil Barrels of Crude Oil 8 2
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