I thought it would be 3 baskets? That’s not correct though. Refer to Table 3-3. The opportunity cost of 1 birdhouse for Montana isTable 3-3Labor Hours Needed to MakeOne Unit of:Baskets6.Amount Produced in 24 Hours:BasketsBirdhousesBirdhousesMontana4.12Missouri346.3 baskets1/3 basket1 basket4/3 baskets

The ‘comparative advantage’ states that the country trade with each other with that good in which…

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opportunity cost of 1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I thought it would be 3 baskets? That’s not correct though.

Refer to Table 3-3. The opportunity cost of 1 birdhouse for Montana is
Table 3-3
Labor Hours Needed to Make
One Unit of:
Baskets
6.
Amount Produced in 24 Hours:
Baskets
Birdhouses
Birdhouses
Montana
4.
12
Missouri
3
4
6.
3 baskets
1/3 basket
1 basket
4/3 baskets

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