Table 2.1. Output Possibilities of the U.S. and the U.K. Output Possibilities of the U.S. and...

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Table 2.1. Output Possibilities of the U.S. and the U.K. Output Possibilities of the U.S. and the U.K. Output per Worker Om O

business economics

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Answer 1

Answer #1

The opportunity cost of producing one ton of steel in the US market is 45/4 = 9 television. i.e. to produce one ton of steel the US economy will have to give up 9 televisions.

Let's go with option "C" (correct answer is not mentioned.)

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Answer 2

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Table 2.1. Output Possibilities of the U.S. and the U.K. Output Possibilities of the U.S. and...

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