Question: Table 1 9 - 1 1 Denmark and Belize can produce both clocks and hats. Each country has a total of 2 0 0 available

Table 19-11
Denmark and Belize can produce both clocks and hats. Each country has a total of 200 available labor hours for the production of clocks and hats. Table 19-11 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
Refer to Table 19-11. What is the opportunity cost to produce 1 hat in Denmark?
\(1/6\) of a clock
1/2 of a clock
2 clocks
6 clocks
Table 1 9 - 1 1 Denmark and Belize can produce

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!