Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Could I get assistance with questions 4 and 5 please

Transcribed Image Text:Labor Hours Needed to Produce One Unit
Wheat
Rice
Canada
2
4
U.S.
1
3
1. What is the opportunity cost of producing one unit of Rice in Canada?
2. What is the opportunity cost of producing one unit of Rice in the U.S?
3. What is the opportunity cost of producing one unit of Wheat in Canada?
4. What is the opportunity cost of producing one unit of Wheat in the U.S?
5. Which country should specialize in producing Wheat?
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