Assuming England has 60 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit opportunity cost of wine in England is ____ yards/bottle.

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20. Assuming England has 60 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit opportunity cost of wine in England is ____ yards/bottle. (Please do NOT reduce fractions to decimals.)

90
England
80
70
60
50
40
PPF
30
20
10
10
20
30
40 50 60
cloth
wine
Transcribed Image Text:90 England 80 70 60 50 40 PPF 30 20 10 10 20 30 40 50 60 cloth wine
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Opportunity cost is the benefit that is derived from the not chosen alternative.

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