Table: Production Possibilities for Tractors and Crude Oil Country Tractors Crude Oil(thousands of barrels) United States 80 40 Mexico 60 180 Reference: Ref 8-5 Table: The Production Possibilities for Tractors and Crude Oil (Table: The Production Possibilities for Tractors and Crude Oil) Use Table: The Production Possibilities for Tractors and Crude Oil. The opportunity cost of _____ is _____ in the United States as/than in Mexico.   Question 12 options:   crude oil; lower   tractors; higher   tractors; lower   tractors; the same

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 31P: Review the numbers for Canada and Venezuela from Table 33.12 which describes how many barrels of oil...
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Table: Production Possibilities for Tractors and Crude Oil

Country Tractors
Crude Oil
(thousands of barrels)
United States 80 40
Mexico 60 180
Reference: Ref 8-5 Table: The Production Possibilities for Tractors and Crude Oil


(Table: The Production Possibilities for Tractors and Crude Oil) Use Table: The Production Possibilities for Tractors and Crude Oil. The opportunity cost of _____ is _____ in the United States as/than in Mexico.

 

Question 12 options:

 

crude oil; lower

 

tractors; higher

 

tractors; lower

 

tractors; the same

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