The table sets out Crusoe's production possibilities frontier in winter. Crusoe currently catches 16.5 pounds of fish and picks 22.0 pounds of berries a day. His opportunity cost of producing a pound of berries is because he O A. 22.5 pounds of fish and his opportunity cost of producing a pound of fish is 30.0 pounds of berries;, is receiving a free lunch O B. 6.0 pounds of fish and his opportunity cost of producing a pound of fish is 8.0 pounds of berries; faces a tradeoff O C. 16.5 pounds of fish and his opportunity cost of producing a pound of fish is 22.0 pounds of berries, is efficient O D. 8.0 pounds of berries and his opportunity cost of producing a pound of fish is 6.0 pounds of fish; is inefficient O E. zero and his opportunity cost of producing a pound of fish is zero, is producing inside his PPF

The table sets out Crusoe's production possibilities frontier in winter. Crusoe currently catches 16.5 pounds of fish and picks 22.0 pounds of berries a day. His opportunity cost of producing a pound of berries is because he O A. 22.5 pounds of fish and his opportunity cost of producing a pound of fish is 30.0 pounds of berries;, is receiving a free lunch O B. 6.0 pounds of fish and his opportunity cost of producing a pound of fish is 8.0 pounds of berries; faces a tradeoff O C. 16.5 pounds of fish and his opportunity cost of producing a pound of fish is 22.0 pounds of berries, is efficient O D. 8.0 pounds of berries and his opportunity cost of producing a pound of fish is 6.0 pounds of fish; is inefficient O E. zero and his opportunity cost of producing a pound of fish is zero, is producing inside his PPF

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ice cream (millions of gallons per year) 5 A 4 В 3 2 3 4 Milk (millions of gallons per year) The figure above shows the production possibilities frontier for a country. The opportunity cost of a gallon of milk between combination point A and Bis A) 4 gallons of ice cream for a gallon of milk. B) 3 gallons of ice cream for a gallon of milk. C) 1 gallon of ice cream for a gallon of milk. D) 1/3 of a gallon of ice cream for a gallon of milk. E) zero because at point A, zero milk is being produced.
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