Table 1 shows the production possibilities for the USA and Mexico. Table 1 Output per hour worked Country Computers Shoes USA 3 6 pairs Mexico 1 3 Based on Table 1, the opportunity cost of a pair of shoes in the United States is

Table 1 shows the production possibilities for the USA and Mexico. Table 1 Output per hour worked Country Computers Shoes USA 3 6 pairs Mexico 1 3 Based on Table 1, the opportunity cost of a pair of shoes in the United States is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Table 1 shows the production possibilities for the USA and Mexico.

Table 1

	Output per hour worked
Country	Computers	Shoes
USA	3	6 pairs
Mexico	1	3

Based on Table 1, the opportunity cost of a pair of shoes in the United States is

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