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5 Written questions

5 Multiple choice questions

  1. the ability to produce a good at a lower opportunity cost than another producer

  2. What is the opportunity cost of Good1 for Country2?

  3. What is the opportunity cost of Good1 for Country1?

  4. What is the opportunity cost of Good2 for Country2?
  5. the ability to produce a good using fewer inputs than another producer

5 True/False questions

  1. x/y
    What is the opportunity cost of Good2 for Country1?

          

  2. w/z
    What is the opportunity cost of Good1 for Country2?

          

  3. x/y
    What is the opportunity cost of Good1 for Country1?

          

  4. opportunity cost
    What is the opportunity cost of Good2 for Country1?

          

  5. between x/y and z/w
    What can Good1 be traded for?