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Consider the table of countries and their associated maximum production possibilities for houses and cars below. Note that these numbers represent output per day. Country
Consider the table of countries and their associated maximum production possibilities for houses and cars below. Note that these numbers represent output per day.
Country | Houses | Cars |
---|---|---|
Bolivia | 5 | 10 |
Greenland | 4 | 16 |
Jordan | 5 | 25 |
Panama | 4 | 8 |
Tunisia | 2 | 10 |
Wales | 3 | 12 |
Based on the data in the table above, answer the following questions.
The opportunity cost of producing one house in Tunisia is _______ cars.
The opportunity cost of producing one house in Wales is ______ cars.
The opportunity cost of producing one car in Bolivia is ______houses.
The opportunity cost of producing one car in Greenland is _____ houses.
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