The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using one day’s worth of labor. Country Skis Sleds Denmark 4 12 Iceland 3 6 Use the the table to answer the following questions Round your answers to two decimal places as needed. What is Denmark’s opportunity cost of producing a pair of skis?
The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using one day’s worth of labor. Country Skis Sleds Denmark 4 12 Iceland 3 6 Use the the table to answer the following questions Round your answers to two decimal places as needed. What is Denmark’s opportunity cost of producing a pair of skis?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter18: Trading With Other Nations
Section: Chapter Questions
Problem 10AA
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The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using one day’s worth of labor.
Country | Skis | Sleds |
---|---|---|
Denmark | 4 | 12 |
Iceland | 3 | 6 |
Use the the table to answer the following questions
Round your answers to two decimal places as needed.
What is Denmark’s opportunity cost of producing a pair of skis?
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