Table 1 shows the production possibilities for the USA and Mexico. Table 1 Output per hour worked Country Computers Shoes USA 3 6 pairs Mexico 1 3 Based on Table 1, the opportunity cost of a pair of shoes in the United States is
Table 1 shows the production possibilities for the USA and Mexico. Table 1 Output per hour worked Country Computers Shoes USA 3 6 pairs Mexico 1 3 Based on Table 1, the opportunity cost of a pair of shoes in the United States is
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 6QR
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Table 1 shows the production possibilities for the USA and Mexico.
Table 1
|
Output per hour worked |
|
Country |
Computers |
Shoes |
USA |
3 |
6 pairs |
Mexico |
1 |
3 |
Based on Table 1, the
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