Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per Day 100 Number of Miners Mother Lode 25 Scraping Bottom 30 10 Middle Drift 75 15 The opportunity cost of moving one miner from Mother Lode to another mine is Multiple Choice 2 tons per day. 3 tons per day. 4 tons per day. 1 ton per day.

Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per Day 100 Number of Miners Mother Lode 25 Scraping Bottom 30 10 Middle Drift 75 15 The opportunity cost of moving one miner from Mother Lode to another mine is Multiple Choice 2 tons per day. 3 tons per day. 4 tons per day. 1 ton per day.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 3P

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